MHC is uniquely qualified to assist providers at any point in the cost report lifecycle. This includes expert assistance in report preparation, filing, and cost report settlement (audit). Our exceptional qualifications ensure prompt and accurate settlement of your cost reports.
You will need to prepare a copy of all of the following items:
- Complete Financial Statements
- Year End Working Trial Balance in Excel format
- Square footage of office and copy of floor plan*
- Any Intermediary Correspondences received, including interim rate and lump-sum payment
- PS&R Report from Cost Report period being prepared.
- Copy of Last Year’s Complete Medicare Cost Report
- Account Analysis: Please provide detail of the items included in the following accounts: (account names may vary) Other/Misc. Revenues, Promotional Advertising, Other/Misc. Expenses.
- Related Party Information: Please include description and dollar amounts of expenses for services or goods provided by related party vendors.
- Worksheet S-1: You will need to complete Lines 8-16. (shaded areas below)
Preparing the Medicare cost report is regarded as an extremely difficult task to accurately complete in the necessary time frame due to the complexity of the worksheets and ever-changing Medicare regulations. The importance of the cost report is important for both compliance and cost accounting reasons. With this importance in mind, MHC provides expertise in all areas of the cost reporting lifecycle.
If you would like to print out a PDF copy of these instructions click here: Hospice Summary Checklist Form