Home Health & Hospice Week
A Few Days Late Can Mean A Month Of Delayed Payments With Cost Reports
Just because cost reports don’t have direct reimbursement impacts doesn’t mean you can slack off with them. So warns HHH Medicare Administrative Contractor Palmetto GBA in a new post to its website. “Medicare cost reports are required to be filed each year … within five months of the end of provider’s cost reporting period,” Palmetto stresses. “Filing the cost report before the due date is strongly recommended, as filing late results in payments being suspended,” the MAC points out. In contrast, filing early “establishes a grace period in the event the report is rejected, allowing time to correct and resubmit the report before payments are suspended,” Palmetto praises. Watch out: “Filing a cost report even a few days late can result in an extended period of suspended payments,” Palmetto underscores. “Suspended payments are not released until the cost report is received and determined to be acceptable. In busy periods (such as the month of June), it may take 30 days to accept the cost report.” More information and links to forms and resources are at www.palmettogba.com/palmetto/jmhhh.nsf/DID/ BPEISNROQS.
Home Health & Hospice Week
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