Medicare Part A providers are required to submit an annual cost report to a Medicare Administrative Contractor (MAC) no later than five months after year-end. Many states also require Medicaid cost reports. Each report, which is a public document, contains an abundance of provider information including utilization, wage index, cost and charge ratios, and more.
Kraft Healthcare Consulting’s team has extensive cost reporting and reimbursement experience for both cost-based and PPS providers. We understand the importance that cost reports hold for healthcare entities. Our experience includes the following types of providers:
| Medical and surgical hospitals | Skilled nursing facilities |
| Critical access hospitals | Home health agencies |
| Teaching hospitals | Rural health centers |
| Specialty hospitals | Federally qualified health centers |
| Inpatient rehabilitation | Hospice and dialysis centers |
| Psychiatric hospitals | Home office cost reports |
| Long-term acute care |
With expertise from working with national proprietary hospital chains, urban health systems, and governmental, nonprofit, and other specialty hospitals, our team can assist any healthcare facility with its cost reporting requirements.
Kraft Healthcare Consulting’s cost reporting services include:
- Prepare or review Medicare and/or Medicaid cost reports
- Review and assistance with tentative settlements, cost report audits, appeals, and other correspondence with CMS and MACs
- Review previously filed cost reports to identify potential exposure and reimbursement opportunities
- Identify and assist with disproportionate share and low income reimbursement for medical/surgical and rehabilitation hospitals, including exam of appropriate Medicaid eligible and out-of-state days
- Assist in compiling and/or review of traditional Medicare bad debts and Medicaid “crossover” bad debts to be claimed on the cost report
- Assist with wage index audits and review for potential geographic reclassifications
- Assist in other Medicare designations such as sole community, Medicare dependent, and/or rural referral centers
- Assist your sole community or Medicare dependent hospital in successfully demonstrating the requirements to receive a low volume adjustment
- Consultations for provider-based issues
- Square footage analysis for proper cost allocations
- Medicaid and other state program reports, such as residential treatment centers
- Cost report training at the beginning, intermediate, or experienced level