Every year, Medicare Part A certified institutional providers must submit an accurate and timely cost report to Medicare Administrative Contractors. Filing an inaccurate report is considered a False Claims Act violation, which can have significant repercussions, including financial penalties and legal expenses. Thus, it is critical for healthcare entities to avoid noncompliance by having qualified individuals compile the information needed to file their cost reports.
The Centers for Medicare and Medicaid Services (CMS) website has several cost reporting resources, which have been the best options for professionals seeking information about cost reports — until now.
Kraft Healthcare Consulting’s Scott Mertie and Katie Reid teamed up with the American Institute of Healthcare Compliance (AIHC) to create a specialized training program recommended for CFOs, accounting staff, revenue cycle professionals, reimbursement professionals, and any other employees tasked with gathering information for cost reports at a healthcare organization. The program is also the first of its kind to offer a credentialing option specifically for cost reporting proficiency — the certified cost report specialist (CCRS) designation.
Scott and Katie, along with five other KraftCPAs healthcare team members (Cara Aaron, Jessica Beshear, Alex Dawald, Jacquelyn Leeman, and Carole Ward) participated in beta testing of the CCRS examination; all seven passed and are the first to receive the credential.
Scott and Katie taught the first session of the course in Nashville on March 12 and 13. The next session will be in the fall of 2019 in Tampa, Florida, with two more in the works for 2020.