Navigating the New Hospice Cost Report
Editor’s Note: Special thanks to Simione HealthCare Consultants, authors of the following article regarding changes to the hospice cost report, for permission to reprint the article in its entirety. This article contains material that was presented by Robert J. Simione, Managing Principal of Simione Healthcare Consultants, LLC, on September 4, 2014, as part of the NAHC teleconference, “What Do CMS’ Hospice Cost Report Changes Mean to You?” A replay of the teleconference is available here.
On August 29, 2014, the Centers for Medicare & Medicaid Services (CMS) released the new cost report requirements for freestanding hospice organizations. As a result, freestanding hospices will no longer complete the Form CMS 1984-99, but rather the Hospice Cost Report Form CMS 1984-14. Significant changes also include new forms that need to be completed, and more detailed financial reporting to capture required data.
The implementation date for the new cost report is for cost reporting periods beginning on or after October 1, 2014.
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