Medicare / Medicaid Cost Report Season is Here

Home health agencies only have until the end of May to file their cost reports for Medicare / Medicaid. As with many other government paperwork (God bless America), this can be a severely time-consuming task that is estimated to take a whopping two-hundred something hours of research, preparation, and data analysis to complete. Given that number, even if you start today, you would have to work on it for over 6 hours a day, 5 days a week, just to finish them in the nick of time. Add to this that due to the highly complicated nature of these forms, you may overlook major errors and lose a lot of money, or even unwittingly violate the law. If you haven’t started your home health agency cost report preparation in 2014, it may be safe to say that you need to call in the professionals.

Khaled Hazzouri of Hazzouri Accounting is a Medicare cost report preparation accountant with many years of expertise in getting these forms done properly and on time. We can prepare the entire cost report for you for a hassle-free filing. Alternatively, we can review any forms you have already accomplished to make sure that everything is in order. We will make sure that you receive the full amount you are due. Call us at 734-844-1614 or visit our website at www.hazzouriaccounting.com for any questions.

If you’re feeling the pressure from the approaching deadline, take a load off and let us do the hard work for you. But for next year, there may be a number of other things you can do to streamline your operations and reduce the stress, overall.

Revisit your business plan and operational policies, and adapt them accordingly to any needed changes you may have noticed so far. Being ineffective at finding and keeping both staff and clients can also be a huge waste of time and resources. If your employees keep leaving, find out why and address it right away. It is much cheaper and less time-consuming to give your employees better pay and benefits than to go over the hiring cycle repeatedly in a short amount of time. You can also partner up with a local college that may be looking to have their students hired as soon as possible after graduation. Aside from the large talent pool, they also have records on each applicant going back several years. Clients, on the other hand, can come from partnering up with other types of healthcare providers such as hospitals and rehabilitation centers.
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There is also a growing number of software designed specifically for home health agencies. These help in documentation, paperwork, billing requests, and many other aspects of the home health business. This includes clinical, financial, administrative, scheduling, and human resources processes, as well as compliance with industry requirements and updates.

Remote patient monitoring (RPM) technologies are sprouting up at a rapid pace. These technologies are useful, not only in keeping better watch of patients’ conditions, but also for reducing the need for on-site visits by your medical practitioners. This, in turn, reduces the response time for any needed interventions. It also lessens the waste of time and money on on-site visits. These technologies include the likes of blood sugar and pressure monitors that can be hooked up to a computer, or even a smartphone, for patients to be able to send their latest results online and in real time. Other emerging technologies include telemedicine robots and toilet sensors.

However, for the current season, where it may be too late to go through all that, Hazzouri Accounting is here to help you file your Medicare / Medicaid cost reports for 2014. Contact us today through our website or visit our social media accounts – Facebook | Twitter | Google+ | LinkedIn.