Update on the New Cost Report Format

Every week we get calls from clients about the new cost report format. They frequently begin with, “We attended this seminar/webinar, and they told us…” People have been told that a vastly expanded chart of accounts will be necessary—hey, that’s what we thought at first too. People have been told that every incoming invoice must be properly recorded by level of care. People have been told many conflicting things.

We understand. Government change brings confusion. Confusion brings over-reaction.  

Fear not. Multi-View prepares more Hospice Medicare cost reports than any company in the country, and we are ready.

We have studied the regulations. We have talked with CMS. The allocation approach meets all the requirements of the new cost report format. It meets the spirit and letter of the regulation. Multi-View is now at work building the new format into our cost reporting software. For each direct cost we’ll choose the appropriate allocation base to allocate that cost to the appropriate level of care. It will all happen in our software. It will all be in place before your new format cost report is due. It will be transparent to you.

Here’s the timetable for the new cost report format: