Home Health Cost Reporting Tips.
A time I wish I could be like Samantha from the famous 60’s TV show “Bewitched” and blink our cost reports away… or blink them completed. Alas, as much as I long to have Samantha’s power, no amount of nose twitching or eye-blinking will help right now. And so we proceed into the data collection & documentation phase of completing the cost report.
This is a time when many are preparing data for the submission of their cost reports. Cost Reports are generally due at the end of the fifth month following the end of an agency’s fiscal year. That being said, if your fiscal year didn’t conclude on December 31 you may not need to concern yourself with working on the cost report, just yet.
The PS&R accumulates statistical and payment data that agencies can use to assist with the completion of their cost report. There are two kinds of reports: Summary and Detailed. The summary reports can be generated, on-demand, through logging into the system. Detailed reports are requested by providers and subsequently made available to the agency. Note: It can take up to 30 days for detailed reports to be made available to your agency so if you are planning to use the reports for your 2011 cost report you may want to consider requesting them shortly.
If you aren’t familiar with the PS&R you can find more information here. The site contains information on registration, user guides and FAQs.