RHC Cost Reporting

Healthcare Business Specialists, LLC prepares approximately 280 RHC cost reports annually for Independent RHCs. Mark R. Lynn, CPA, CRHCP, CCRS has over 35 years’ experience working with RHCs and Dani Gilbert, CPA, CRHCP is a Certified Rural Health Professional accredited by the NARHC. Our team also includes Page Chambers, CIA, CRHCP, and Trent Jackson, CCRS goal is to prepare your Medicare cost reports as accurately and timely as possible within the constraints of tight independent RHC budgets. The following is a link that will open our RHC Cost Reporting brochure if you are interested in more information related to cost reporting services for RHCs.

Medicare cost reports for independent RHCs have become much more important since the passage of the Consolidated Appropriations Act of 2021 which dramatically increased the Medicare upper payment limits for rural health clinics. These large increases in the upper payment limits allow RHCs that properly prepare the Medicare Cost Report to obtain much more Medicare reimbursement; however, it could result in large paybacks to Medicare if interim rates are higher than the actual cost per visit. Interim cost reports are an effective way to monitor the actual cost per visit and plan for ways to maximize your Medicare reimbursement within Medicare cost reporting rules.

If you would like Healthcare Business Specialists to help prepare your cost reports, please email Mark Lynn or Dani Gilbert at ruralhealthclinic@outlook.com and we will put together a proposal for this service.

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RHC Cost Reporting for 12/31/2023

February 4, 2024: It is that time of year again. This cost report season looks to be the most demanding yet. Due to significant modifications within the Rural Health Clinic (RHC) program introduced by the Consolidated Appropriations Act, 2021 (CAA), there has been a notable increase in the National Statutory Upper Payment Limits. These adjustments have escalated the per visit reimbursement rate to $139 in 2024, with an increase to $190 by 2028. Furthermore, the program has expanded to include various services that do not fall under the All-Inclusive Rate, necessitating their exclusion from the cost-per-visit calculation. These changes underscore the heightened influence of cost reports on financial settlements, both positive and negative, as well as the increased complexity and time required for their preparation. To ensure the timely and accurate completion of your cost report, we strongly advise that all requisite information be uploaded to your designated portal by May 1, 2024. Failure to meet this deadline may compromise our ability to guarantee the timely filing of your report.

To help you accumulate the information needed to file an accurate and timely cost report we have provided the following resources and will have a webinar on February 6, 2024 to go over the requirements. Provided below is a 3 page Cost Report checklist, a 24 page checklist and sumpporting workpapers that should be completed for us to have all the information needed to file the cost report, or if you prefer an Excel file to complete the workpapers is included as well.

Cost Reporting for Rural Health Clinics - What is needed to file an accurate and timely cost report

In this webinar, Mark Lynn, CPA (Inactive), CRHCP, CCRS and Dani Gilbert, CPA, CRHCP, Page Chambers, CIA, CRHCP, and Trent Jackson, CCRS will go over cost reporting for Rural Health Clinics. Topics covered will include information needed to be compiled for preparation of the cost report, electronic filing of cost reports using MCREF, allowable expenses on the cost report, increased upper limits for RHCs, counting visits including how to treat telehealth, CCM, and other services not included in the calculation of the All-Inclusive Rate, Medicare Bad Debts, and flu, pneumococcal, COVID-19 vaccines, and MAB infusions/injections. The webinar will go over the process for gathering information to file cost reports with Healthcare Business Specialists so no continuing education credits for CRHCP since is a client The webinar will last one hour and some time for questions will be available.

Please register for Cost Reporting for Rural Health Clinics - What is needed to file an accurate and timely cost report on Feb 6, 2024 1:00 PM EST at:

https://attendee.gotowebinar.com/register/885934129964292700 

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November 14, 2023

RHC Cost Reporting - What to do Before Year-End

In this webinar, Mark Lynn, CPA (Inactive), CRHCP, CCRS, Dani Gilbert, CPA, CRHCP, Page Chambers, and Trent Jackson will go over important year-end Rural Health Clinic cost reporting deadlines, how to ensure you optimize your reimbursement in an environment of increased Medicare caps for Independent or Freestanding RHCs. We will discuss the importance of writing off Medicare bad debts on or before 12/31/2023 in order to file them on the Medicare Cost Report.

Please register for RHC Cost Reporting - What to do Before Year-End on Nov 14, 2023 1:00 PM EST at:

September 1, 2023: We have developed an RHC Cost Report Plan and Todo List that will help you to understand what you need to know to file a timely, accurate, and optimized cost report.

Our Cost Report Checklist for 2022 cost reports and other cost report resources can be found as follows:

We have prepared a webinar to help gather the information to prepare the cost report which will occur on January 19, 2023 at 1:00 PM Eastern time. Please register below to attend the webinar. The session will be recorded for later viewing if the time.

Cost Reporting for Rural Health Clinics - What is needed to file an accurate and timely cost report Webinar

January 19, 2023

 

In this webinar, Mark Lynn, CPA (Inactive), CRHCP, CCRS and Dani Gilbert, CPA, CRHCP, Page Chambers, CIA, CRHCP, and Trent Jackson, CCRS will go over cost reporting for Rural Health Clinics. Topics covered will include electronic filing of cost reports using MCREF, allowable expenses on the cost report, increased upper limits for RHCs, counting visits including how to treat telehealth, CCM, and other services not included in the calculation of the All-Inclusive Rate, Medicare Bad Debts, and flu, pneumococcal, COVID-19 vaccines, and MAB infusions/injections. The webinar will last one hour and there will be time for questions. 

Please register for Cost Reporting for Rural Health Clinics - What is needed to file an accurate and timely cost report on Jan 19, 2023 2:00 PM EST at:

https://attendee.gotowebinar.com/register/5531040895397331798

July 31, 2022 Mark Lynn and Dani Gilbert are presenting today on Cost Reporting for the Rural Health Association of Tennessee. Here are some of the resources.