RHC Cost Reporting
RHCs are required to file Medicare and Medicaid cost report annually in order to determine their payment rate and reconcile interim payments, including adjustments for GME payments, bad debt, and influenza and pneumococcal vaccines and their administration. Healthcare Business Specialists can prepare these cost reports for you, eliminating guesswork and inaccuracy while ensuring accurate reimbursement for your clinic.
Every year, Healthcare Business Specialists will send out a cost report checklist that helps our clients in pulling together the required information needed for the cost report preparation.
Healthcare Business Specialists will also work with your Medicare Administrative Contractor (MAC) to resolve any differences concerning your cost report at no additional cost to the clinic. Additionally, we are available to answer any questions that management may have concerning Medicare and Medicaid reimbursement during the year.
If your rural health clinic is not above the Medicare reimbursement maximum, you should consider having us prepare your cost report. Our recent review work has indicated that a number of clinics are not achieving maximum reimbursement rates as a result of incorrectly prepared cost reports. Last year 98% of our clients were at, or above, the reimbursement cap while the cost reports were filed conservatively.
Filing over 150 cost reports each year, we have been working with Medicare and Medicaid cost reports since 1981 – that experience has proven results.
Healthcare Business Specialists also performs cost report reviews. If you are below the cap it just makes sense to have your cost report reviewed. Even if we do not find increased reimbursement, you will receive a free benchmarking report comparing your clinic to other clinics in your area. The comparison will look at physician compensation, charges per Medicare visit, reimbursement per Medicare visit, physician visits, NP visits, PA visits, influenza and pneumococcal vaccine reimbursement, and other key operating variables of a rural health clinic.