Cost Reporting

Inpatient psychiatric hospitals and community mental health centers (CMHCs) are required to file annual Medicare and Medicaid cost reports to ensure accurate payment rates and, in some instances, to verify that reimbursement from the Medicare and Medicaid programs do not exceed the cost of providing services. Inpatient Psychiatric facilities are required to file the Centers for Medicare and Medicaid Services (CMS) 2552-96 cost reporting form and CMHCs are required to file the CMS-2088 form.

These reports are complex and cumbersome, requiring:

• A comprehensive understanding of the CMS Provider Reimbursement Manual (PRM);
• Knowledge of Medicare and Medicaid reimbursement methodologies, including the Inpatient Psychiatric Prospective Payment System (IPF PPS) and the Tax Equity and Fiscal Responsibility Act (TEFRA) payment system.

PCG Expertise

PCG consultants have extensive experience with CMS cost reporting requirements and provide clients with unmatched cost reporting
services, including:

• collection of data in a consistent and efficient fashion to minimize clients’ administrative burden;
• completion of all pertinent worksheets within the Medicare and Medicaid cost reports;
• preparation and submittal of a cost reporting binder that is properly organized and contains the necessary supporting documentation on cost finding methodologies;
• completion of appeals or reopening of requests to capture additional costs to increase Medicare and/or Medicaid reimbursement;
• complete support when reports are audited by CMS or Medicaid agencies;
• rate setting reviews to ensure payment rates accurately reflect costs so that revenues are optimized;
• assistance in the preparation of compliant Medicare bad debt logs to minimize disallowances;
• submission of an annual management letter to our clients that outlines findings for process improvements and high lights pertinent changes to federal and state regulations that could potentially impact reimbursement to clients.

Among our clients:

• State of Alaska
• State of Arizona
• State of Florida
• State of Illinois
• State of Louisiana
• Commonwealth of Massachusetts
• State of Texas

Click on the image to download our information sheet on this service.