Our process is proven to make a positive impact on Medicare and Medicare cost reports for critical access hospitals.
Medicare shares in a portion of the costs incurred by critical access hospitals, so a review of the Medicare cost reports can become a source of income for your hospital. Often, costs are omitted from the cost report, resulting in a missed opportunity to collect a reimbursement. When these errors or omissions are made year after year, hundreds of thousands of dollars could be left on the table. Our review process can identify these omissions and resolve them, resulting in reimbursements for your hospital.
As we review your cost reports, we will uncover potential opportunities to increase both one-time and on-going reimbursements. We use strategies such as potentially reclassifying your hospital from its current geographic CBSA to another CBSA with a higher wage index. We will also complete an analysis of your Medicaid Disproportionate Share (DSH) eligible days, and will help identify and document Medicaid bad debt cases to maximize all allowable bad debt.
Once we’ve identified the holes in your cost reports and the opportunities to increase income from additional reimbursements, we will create a strategic plan that will allow your team to maximize reimbursements and minimize payments on an on-going basis. This strategy includes a plan for the collection of data, the creation and implementation of accounting procedures, and the preparation to provide adequate and appropriate documentation to accompany your report.
We will present our findings and strategy to you and your key personnel. The presentation will include insight into how to improve processes and procedures all year long, in anticipation of preparing Medicare and Medicaid cost reports. You will have an opportunity to ask questions and provide feedback, so that when we prepare your cost reports for the upcoming year, we have all of the information we need in order to achieve an improved result.
Proper preparation of the Medicare and Medicaid cost reports is the key to optimizing your revenue and complying with regulations. Our use of specialized software, paired with decades of practical experience working with critical access hospitals like yours, will allow us to capture all possible reimbursements and eliminate entries that will result in necessary payments. We will address allowable costs, non RHC costs, overhead cost allocation, provider productivity, RHC visits, RHC productivity, flu and pneumonia reimbursements, and more.
We will work with your key leaders to ensure that all personnel are equipped with the tools necessary to ensure that reimbursements are maximized year after year. To this end, we will work hand in hand with your team to put processes into place to make collecting data and documentation a seamless integration with your daily operations, and we will train your team to assess reimbursement issues as they arise.
Accurate Medicare Cost Reports allow you to maximize returns and minimize payments.
Outsourcing cost reports to the specialist lets you spend your time doing what you do best.
Optimum resource allocation will lead to improved results and more efficient performance.
Improve staff performance and achieve better results in the future with proper team training.