Monitoring Medicare Enrollment
The Medicare Enrollment information on file may be the most important information to a healthcare provider. While all healthcare providers must re-validate their information on file when requested to do so, a failure to modify information can result in the loss of billing privileges by the healthcare provider.
Changes in information on file with the Medicare program must be updated within thirty (30) or ninety (90) days of the change. Providers need to be keenly aware of that information on file with the Medicare program and make timely changes to this information.
The Medicare Administrative Contractors (“MACs”) have been extremely lenient regarding the timeliness of change submissions; however, recent information released by CMS is an indication of an increased emphasis on timely reporting of changes. The revocation of billing privileges could represent a financial challenge that would be difficult to overcome for many providers. When addressing corporate compliance all providers should ensure that Medicare enrollment information and updating that information is included.
Modifications to the New Hospice Cost Report
The U.S. Centers for Medicare and Medicaid Services (“CMS”) released the final “new” Hospice Cost & Data Report (CMS Form 1984-14) at the end of 2014. Hospice cost reports for cost reporting years that began on or after October 1, 2014 were submitted using the new forms.
The new Hospice Cost & Data Report represents a substantial modification to the existing cost report and required hospices to modify their existing chart of accounts, develop methodologies for accumulating the newly required financial information, accumulate statistics required for reclassification and allocation of costs, and develop processes for continuous accumulation of the required cost and statistical information. CMS has now released Transmittal 3 which makes additional modifications to the cost reporting forms. These changes are effective for cost reporting periods ended on or after December 31, 2017.
Complimentary Review – We offer a complimentary review of your completed cost reports. If you are interested in this complimentary service contact us at contact@healthgroup.com
2018 Hospice Educational Program
The Health Group, LLC has scheduled the 2018 Hospice Financial and Administrative Management Academy for September 17-18, 2018 at the Mirage Las Vegas. Topics coverage includes Medicare Enrollment, Improving Cost Report (including guidance regarding the 2018 cost report changes and electronic signature, updated CAP Management, Financial Reporting, Tax Issues for Proprietary and Tax-Exempt Providers (including issues associated with the change in tax laws impacting healthcare providers and their employees), and more. We are pleased that Katie Wehri will be joining us to provide a Payment Risk Update (ZPIC, TPE and more). Details, registration information, and hotel information are available here.
The professionals at The Health Group, LLC have been providing financial and administrative educational programming to healthcare providers since 1993. The Health Group, LLC is a registered sponsor on the National Registry of CPE Sponsors.