What We Do

Your business is our business. With over 17 years of Medicare cost reporting experience, we believe in assisting clients in filing timely, fast and accurate cost reports.  We will be there after the submission and assist Medicare contractors with the desk review or audit process if needed. We're prepared to help you at any level. 

Medicare cost reports serve several important purposes within the U.S. healthcare system. These reports are a fundamental component of the Medicare program, which provides health insurance to eligible individuals, primarily those aged 65 and older. The main purposes of Medicare cost reports are as follows:

1. Determination of Reimbursement Rates: Medicare cost reports are used to calculate reimbursement rates for healthcare providers who participate in the Medicare program. These providers include hospitals, skilled nursing facilities, home health agencies, hospices, and other healthcare institutions. The data in these reports help Medicare set reasonable payment rates for services provided to beneficiaries.
2. Transparency and Accountability: Cost reports promote transparency and accountability in the healthcare industry. By requiring providers to submit detailed financial and operational data, Medicare ensures that taxpayer dollars are spent efficiently and appropriately. This information can be used to identify trends, analyze spending, and detect potential fraud or abuse.
3. Budgeting and Planning: Medicare cost reports are essential for budgeting and planning purposes. Medicare, as a government program, needs to allocate funds appropriately to cover the healthcare needs of its beneficiaries. Accurate cost data from providers help in forecasting and allocating budgetary resources.
4. Quality Assessment: Cost reports often include information on the quality of care provided by healthcare institutions. This data can be used to assess the quality of healthcare services and identify areas for improvement. Medicare can use this information to incentivize providers to maintain or improve the quality of care.
5. Research and Analysis: Researchers and analysts in the healthcare field rely on Medicare cost report data for various studies and analyses. These reports provide a wealth of information about healthcare costs, utilization patterns, and other factors that can inform policy decisions, academic research, and industry trends.
6. Policy Development: Medicare cost reports are used by policymakers and government agencies to inform policy development and regulatory decisions. These reports can help policymakers understand the financial challenges faced by healthcare providers and make informed decisions about program adjustments and reforms.
7. Payment Audits: Medicare cost reports are subject to audits and reviews by government agencies to ensure accuracy and compliance with program regulations. Audits help identify discrepancies and potential overpayments or underpayments, which can result in financial recoveries or penalties.
8. Provider Certification: In some cases, Medicare cost reports may be used as part of the certification process for healthcare providers. Providers may need to demonstrate their financial viability and compliance with Medicare rules to participate in the program.

In summary, Medicare cost reports play a crucial role in the administration and oversight of the Medicare program. They provide essential financial and operational data that support reimbursement, accountability, transparency, research, and policy development in the healthcare industry.