How to Interpret Home Health Care Agency Cost Reports

Interpreting government reports can be as challenging as learning a new language. With a lot of time and planning, however, anyone can master the ins and outs of home health care agency cost reports. Fortunately, running a successful home health business is the first step in interpreting home health agency cost reports.

Instructions

1. Download files from the Healthcare Cost Report Information System available at CMS.gov. These files will include examples of home health cost reports. Getting familiar with the forms is the first step in understanding the reports.

2. Create a team of professionals designed to work on the cost reports. The team should include the managing nurse, the finance person, business office manager and may also include a member of the field staff. Each perspective will provide pieces to the puzzle needed for populating data on the cost report.

3. Be familiar with the software system used to house patient data as well as billing information if these are two different systems. If billing is done by a third party, request reports that give annual totals for visits by discipline. The total costs of supplies for the year is also necessary.

4. Contact the fiscal intermediary. Companies like United Government Services offer step-by-step tutorials on how to understand cost reports. Costs reports are ultimately about making sure the statistical data that represents the home health care agency is accurately conveyed in the report. Get on the phone with a CMS representative with any questions about cost report worksheets.