Cost Report Review

Two business professionals reviewing documents at a desk with their laptops - Stroudwater

Cost Report Review to Ensure Compliance and Identify Opportunities

Stroudwater collaborates with Critical Access Hospitals to improve the accuracy of the Medicare cost report, ensure regulatory compliance, and improve overall hospital financial and operational performance.

With a deep understanding of the rural healthcare landscape, the operational and financial aspects of a Critical Access Hospital, and the technical nature of cost reports, our team provides advisory services to improve the cost report and align with Critical Access Hospital best practices.

Explore Our Cost Report Analysis Tool

Stroudwater Associates provides a cloud-based Cost Report Tool that searches for errors, inconsistencies, omissions, misallocated costs, and potential opportunities. While cost reports are highly technical, the Cost Report Tool benchmarks the specific cost report against years of cost report data to identify potential opportunities.

Combining Operational & Financial Expertise

Our approach to cost report review is based on decades of experience supporting Critical Access Hospitals and understanding the unique operational and financial challenges that they face. Our team reviews the cost report in depth to ensure accuracy, compliance with requisite guidelines, and identify potential improvement opportunities for the hospital. As part of the Stroudwater cost report review, we will evaluate key areas such as:

Medicare Bad Debts

Overhead Cost Allocations

Related Party Cost Allocations

Provider Compensation Reporting

Provider-Based Entity Rural Health Clinic Reporting

Distinct-Part Unit Financial Performance

Swing Bed Utilization

Departmental Cost-to-Charge Ratios (CCRs)

The Cost Report Review Team

Our team will provide specific examples of financial and operational opportunities to improve the cost report and align with Critical Access Hospital best practices. Our review is informed by our experience working with and advocating for hundreds of Critical Access Hospitals and their rural communities nationwide.

CPA, FHFMA

Senior Consultant

Finance

Contact Stroudwater to Start Your Cost Report Review

Cost Reports provide a wealth of information about a hospital’s clinical model, cost structure, and overall financial performance. A thorough cost report review by our team helps a Critical Access Hospital ensure compliance and accuracy while identifying potential opportunities for financial and operational improvement.

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