What is included in your Medicare Cost Report?

What is included in your Medicare Cost Report?

Gustavo A Viera a Medicare Cost Report Preparation firm with nearly 30 years of experience preparing Medicare Cost Reports. This Report is used by the government to track the Cost of Medicare and Medicaid programs. In addition, Medicare CPA uses the data from the Cost Reports to set reimbursement. Due to reductions in the Reimbursement System, choosing the right Medicare Accountant to prepare your Cost Report has never been more important.

Every year, Gustavo A Viera Medicare Cost Report Preparation firm prepares over a hundred Cost Report. Our highly trained and experienced Medicare Accountant review and ensure that your Medicare Cost Report is prepared in compliance with all CMS’s regulations.

We provide expert Medicare Cost Report Preparation services including:

  • Analysis of Accounting Records to ensure Compliance with Cost Reporting Regulations
  • Year End Adjusting Journal Entries, Adjusted Trial Balance
  • Cost Report Package for submission to corresponding Medicare Intermediary, including:
  • Electronic Cost Report
  • Work Papers related to Cost Report reclassification and adjustments
  • CMS Form-339 Questionnaire
  • Trial Balance
  • Grouping Schedule
  • Compiled Financial Statements
  • Electronic AHCA Cost Report File and copy of submitted AHCA Cost Report

Medicare Cost Report Preparation

Preparation of CMS annual Medicare Cost Report and supplementary schedules in one nice package, with suggestions for reimbursement opportunities when applicable. We also prepare the Medicaid Cost Report, in a similar fashion.

Medicare Cost Report Review Services

Review of the CMS annual Medicare Cost Report is prepared for you, to highlight any potential improvements, issues or omissions, and to offer suggestions to streamline the AHCA Cost Report preparation of future years.

Hospital Medicare Cost Report Preparation

Medicare Training & Consulting prepares several Critical Access Hospital Cost Reports. Our staff is well trained at the different reimbursement schedule for Critical Access Hospitals.




Medicare CPA Approximates Providers Received $6.6 Billion despite Tax Debts

Medicare CPA Approximates Providers Received $6.6 Billion despite Tax Debts

Medicare CPA VieraCPA approximates 7,000 Medicaid Cost Report providers in three selected states—Florida, New York, and Texas—had an estimated $791 million in unpaid federal taxes from 2009 or earlier, but nonetheless received about $6.6 billion in Medicare Cost Report and Medicare Cost Report reimbursements that year, according to a new study by the Government Accountability Office and Medicare Cost Report Preparation firms.

This represents about 5.6 percent of the Medicare Cost Reporting reimbursed by the selected states during 2009. The report noted that the amount of unpaid federal taxes that the GAO identified is probably understated because taxpayer data from the Internal Revenue Service reflects only the amount of unpaid taxes either reported on a tax return or assessed by the IRS through enforcement. It does not include entities that did not file tax returns or underreported their income.

The GAO report also profiled 40 Medicare Cost Reports providers, including dentist, home care providers, doctors, hospitals, medical suppliers and others. These individuals and businesses received a total of $235 million in Medicare Cost Reporting reimbursements, while having unpaid taxes of about $26 million. The amount of unpaid federal taxes ranged from approximately $100,000 to over $6 million.

Medicare CPA VieraCPA approximates these 40 cases, according to the report, show “the sizable amounts of unpaid federal taxes owed by some Medicaid providers, are among the most egregious examples of Medicare Cost Report Preparation providers with unpaid federal taxes we identified.”

Records reviewed by the Medicare CPA indicate that two of the providers reviewed by GAO investigators are currently, or were previously, under criminal investigation. One example of criminal behavior was a provider caught in a Medicare Cost Report Preparation billing fraud scam. Another company was found guilty of “improperly prescribing controlled substances.”

Other providers profiled in the report took actions that were not illegal, but raised the suspicions of state regulatory agencies and others. For example, providers reviewed by the GAO have had their professional licenses revoked and have been fined by state oversight agencies for regulatory violations. One provider was disciplined by the state Board of Medicine for “quality of care and record-keeping violations.”

Wining and Dining

One dentist profiled by the GAO owed over $100,000 in federal taxes, but nonetheless continued to spend money on “fine dining, trips, spas, shopping and wine.” Another couple bought a new home while their Medicare Cost Report business accumulated a $3 million tax debt.

More than 77 percent of the taxes owed by the 7,000 Medicaid providers came from payroll and individual and corporate tax. In addition, 72 percent of the taxes owed have been owed for more than five years, since 2007. The longer the IRS takes to collect taxes owed to the federal government, the odds grow that the tax revenue with never be collected.

The report showed that the IRS attempted to collect taxes from all 40 of the Medicaid health care providers who were examined in detail, but the IRS was often stymied due to hidden assets, broken commitments, or legal or corporate maneuvers taken by the providers to avoid paying their tax debts.

GAO investigators attempted to include the state of California in the report by obtaining Medicaid data from California, but determined that the data was unreliable for the purpose of the report and removed them from the analysis.

The report found that current federal law does not prohibit Medicaid providers who owe federal taxes from participating in Medicaid or receiving Medicaid payments. In addition, the report found that the IRS is limited to issuing a one-time tax levy to collect the unpaid taxes owed to the federal government. If the payment does not cover the tax debt owed, then the IRS has to issue another levy. Medicaid payments have never been continuously levied because they are not considered or do not qualify as “federal payments” under federal law.

If the IRS had a continuous levy authority for Medicaid, it could have collected between $22 million and $330 million from tax cheats from the three states studied, according to the report.

The report recommends that the IRS “explore further opportunities to enhance collections of unpaid federal taxes from Medicare Cost Report providers.” While citing operational challenges, the IRS agreed to further explore “opportunities to enhance collection of unpaid federal taxes.”