Common Mistakes to Avoid in Your Home Health Medicare Cost Report
This Home Health Medicare cost report is one of the most essential reports in healthcare provider organizations since it directly affects refund and Medicare compliance. Accounting for costs and their report is crucial for adequate reimbursement and preventing penalties. Therefore, cost report preparation is a critical factor for reimbursement and the overall financial well-being of your home health agency. However, the following are some common mistakes that will affect the quality of your cost report. Below is a checklist to help you avoid these mistakes. 1. Incomplete or Incorrect Data One of the biggest mistakes when filling out the Home Health Medicare cost report is not including correct or missing information. Ensure that proper and complete data regarding the efficiency and utilization of the patient’s care, administrative spending, and staff management are input in the right parts of the report. Cross-check the figures and calculations so that errors will affect the reimburs...