Annual Reporting / Medicare Cost Report Preparation and Review

Cost Report Preparation

Toyon Associates secures compliance with all applicable government regulations and revenue entitlement accuracy. We prioritize our focus on all areas with significant compliance and reimbursement effect, such as general ledger and revenue mappings, home office cost reports, cost allocation statistics, and total and program utilization information, code assignments, and settlement calculations. For proper reporting disclosure and consistency, we review the prior years’ cost reports’ audits and appeals and estimate protested amounts. Using our Absolute® software, we automate the process and provide year-over-year specific analytics identifying areas impacting cost report compliance and entitlement, such as changes in volumes, utilization, and variances in expenses and revenues. Upon completion of all required cost reporting schedules, we meet with leadership to review all results and obtain the required signatures to submit the reports on your behalf. 

Toyon provides the following upon completion: 

• Medicare, Medicaid, and TriCare cost reports 

• Cost statement 

• HHA and RHC cost reports 

• Executive Summary and detailed findings and recommendations, which may include process improvement and/or automation opportunities 

• Key financial indicators analysis 

• Access to supporting workpapers and analytics performed 

• A 3-year comparison of hospital cost report data elements 

• Analysis of cost report settlement components, including a comparison to settlement reserve estimates 

Audit Support

Our expert team works with the Medicare Administrative Contractor (MAC), State Agencies, and TriCare representatives regarding cost report audits. We answer audit questions on behalf of our clients, provide supporting workpapers, documentation, and facilitate negotiations. We review proposed MAC and other government agency adjustments for accuracy and appropriateness and provide financial impacts. If, during audit, your organization and the auditors cannot resolve their differences related to cost report audits, our team will identify appeal opportunities and provide recommendations.