RHC Cost Reports (Form 222)
The Medicare and Medicaid cost reports must be prepared annually to ensure accurate reimbursement for the clinic. We will prepare the Medicare and Medicaid cost reports, Medicare workpapers, and Form 339 Questionnaire as aggressively and accurately as possible.
We provide a 150-page cost reporting book (a $100 value) that has all the forms and organizes the cost report information so that it can be easily filed.
HBS will also work with intermediaries to resolve any differences concerning the Medicare and Medicaid cost report at no additional cost to the clinic and we will 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 of $77.76 for 2010; then, you should consider having us prepare your cost report. Last year 100% of our clients were at or above the reimbursement cap and the cost reports were filed conservatively as we did not have a single cost adjustment in our cost reports. Our recent refilings and contingency work has indicated that a number of clinics are not getting the maximum reimbursement rates and it is not due to low costs. It is due to incorrectly prepared cost reports. We have been working with Medicare and Medicaid cost reports since 1981 or 29 years of experience. That experience has proven results. HBS has recovered over $500,000 in lost Medicare and Medicaid reimbursement by re-filing Medicare and Medicaid cost reports. We can look at the previous year's cost reports on a contingency basis and if we will only be paid if we find something. The fee is 25% of the Medicare increased reimbursement when it is credited to your account. If you are below the cap it just makes sense to have your cost report reviewed. Even if we do not find increased reimbursement; we will send you a free benchmarking report comparing how your clinic compares to other clinics in physician compensation, charges per Medicare visit, reimbursement per Medicare visit, physician visits, NP visits, PA visits, Flu shot reimbursement, pneumococcal reimbursement, and other key operating variables of a rural health clinic.
One of the benefits of working with Healthcare Business Specialists is that all cost report work will be performed by Mark R. Lynn. He has worked for almost thirty years as a health care consultant and Certified Public Accountant (CPA) for rural health clinics, physicians, and hospitals.