Have You Missed Your Medicare/Medicaid Cost Report Deadline?

Medicare/Medicaid cost reports (MCR) is probably the biggest challenge home health agencies face each year. The reports are complicated. The laws and procedures keep changing, and time is yet another constraint. Those who run home health agencies often do not have a solid medical background. It is usually effort enough to try and understand what Medicaid is and the nuances of Medicaid eligibility. Coupled with the MCR paperwork, one would think you’d have to be a doctor, a lawyer, and an accountant all in one.

In addition, the CMS is determined not to make things any easier. According to their website:

1. Cost reports are due on or before the last day of the fifth month following the close of the cost reporting period. For cost reports ending on a day other than the last day of the month, cost reports are due 150 days after the last day of the cost reporting period.

Very specific. And also very “zero tolerance,” as can be seen in the next stipulation:

2. No extensions will be granted except when provider’s operations are significantly adversely affected due to extraordinary circumstances over which the provider has no control. An example would be a flood or fire that forces a provider to cease operations and to transfer its patients temporarily to other providers outside of the impacted area. The contractor would still be required to obtain CMS approval.

 
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It makes no difference how long you’ve been at the home health agency business – Medicare/Medicaid Cost Reports (MCR) are a complex and ever-changing thing. If you missed the deadline last May, you are just one of many. Unfortunately, this almost always means a 100% rate of claims suspension. However, you do have an extra 60 days to still get the MCR in. Given the estimate by the CMS, you may be fast running out of time. Even if you still had a full 60 days (which you don’t), working 8 hours a day, 5 days a week, you would still only have 70 hours left to do it.

If you already missed the deadline last May, don’t make the same mistake again. Hazzouri Accounting has over 16 years expertise in taxes and other accounting services, including MCR preparation and processes. We are a proud and active member of the local Michigan community and are happy to serve the surrounding areas. We meet for your accounting needs but build a lasting relationship as friends.

Khaled Hazzouri is a certified public accountant with a Master’s degree from Wayne State University. We provide complete and hassle-free tax preparation services, whether individual or business. We take the paperwork and second guessing out of all your start-up tax and accounting, income tax returns, payroll, bookkeeping, and all other tax and accounting needs.

We are located at 2200 N Canton Center Rd. #170, Canton, MI 48187. Our service hours are weekdays, 9:00 – 5:00 p.m. After hours and Saturdays by appointment only, Sundays closed. We will be happy to answer any and all questions. Please call us at 734-844-1614 or use the contact form on our website.

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