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Medicare Cost Reports are used to explain expenses and revenue for the different types of services provided by Ground Ambulance agencies. CMS’s main concern is gathering a clear picture of the costs related to operating a ground ambulance service. The information will be collected and analyzed to gauge how adequate Medicare payments are for ground ambulance services. When gathering your information, you will be required to report information spanning over a continuous 12-month period. The report will include a multitude of data points broken down into many sections. The following are some of the sections, as well as a few examples of what information will be requested:
1. Organizational characteristics
a. Questions regarding your agency’s services, structure, deployment type
2. Service area
a. Information involving the areas of service by ground ambulance
3. Response times
a. One example is to provide information regarding how you record response time.
Are incentives involved in meeting response time goals?
4. Service volume
a. Will need to provide details around run volume
5. Service mix
a. Will need to report details regarding percentage of transports based on
a. Labor costs for paid, volunteer, administration, Medical Director etc.
b. Annual compensation, along with total hours worked.
c. Facilities characteristics and associated cost
d. Other costs of doing business (Insurance, Utilities, Taxes, Vehicles)
e. Any equipment and supply costs
a. Revenue broken down by payors, along with dollar amounts
Depending on whether your agency has implemented specific reporting techniques prior, will greatly affect the amount of time required to gather and submit an accurate cost report. We estimate it can take an agency with no prior preparations over 30 hours to put their report together.
Our consultants have a high understanding of the cost reporting process and have built processes to assist with the gathering and filing of these cost reports. Our staff is trained and up to date with the ever-changing CMS regulations. Everyone within “EMS Team” is properly trained in best practices for handling of confidential patient and financial information.
We are here for your cost reporting needs so you can focus on the day-to-day needs of your organization, and the fast-paced, ever-changing EMS industry. Our Team is not only here as technical advisors, but also as healthcare providers with improving the patient experience as their priority.
We are available to assess your agency’s specific needs. Don’t wait until it’s too late or get hit with a Medicare penalty. Contact us immediately to discuss more. Please complete the fields below and someone from our Team will be in contact with you.