Frequently Asked Questions

Q: How much do you charge for Medicare cost reports?

A:Our Medicare report pricing is simple.  The standard cost of preparing and supporting a Medicare NF, HHA, or Hospice report is $2,500 per report.  The pricing for Home Office reports varies based upon the size and complexity of your organization.  MFS does offer QUANTITY DISCOUNTS to its clients based on the number of Medicare reports you need prepared. Feel free to contact us with your needs and receive a personalized quote today.

Q: How much do you charge for Medicaid cost reports?

A:This is not quite as simple.  Each State is different and therefore our pricing has to be State specific.  For Texas NF and AL/RC-CBA facilities, our standard pricing is $2,500 per report.  Other State cost reports that have standardized pricing include:  Oklahoma $2,000, Missouri $2,000, and New Mexico $2,100. Central office allocations also differ by State.  MFS also offers QUANTITY DISCOUNTS to its clients based on the number of Medicaid reports you need prepared. Feel free to contact us with your needs and receive a personalized quote today.

Q: Why does your firm require an engagement letter prior to preparing my cost report?

A: These agreements are for the protection of our clients as well as our firm. When we sign our engagement letter, we commit to you the nature of the work we will perform AND the outcomes and work product you can expect to receive from us.

Q: Do you require a retainer or payment in advance?

A: Usually not.  However, depending on the size of the engagement  or the nature of the engagement we may require a retainer to begin work. This decision is based on the timing of the engagement, any prior history we have with the client, and the degree to which out-of-pocket expenses may be incurred.  In the event that a new or existing client sells their facility or terminates their provider participation, we reserve the right to request that our invoice be honored on a COD basis.

Q: I am interested in having MFS prepare more than one of my company's reports. Is there a discount available for multiple reports?

A: Yes!  Depending on the types of reports you need and the number of reports you need to have prepared, discounts may be available. We would be happy to provide you with a personalized written quote upon request.

Q: What do you need to get started on my cost reports?

A: We will need a variety of financial and statistical information pertaining to your facility fiscal year. When you contact us to complete your facilities reports we will send you an engagement letter and an information request packet.  This packet will detail the information we will need to begin preparing your reports. Returning the engagement letter and the completed packet in its entirety is important, as any missing necessary information may delay your reports completion.

 

Q:What format do I need to submit my data in?

A: We would prefer to receive a copy of the requested data in Microsoft Office Excel format, as this minimizes processing time. However, we can also accept PDF or paper documents provided that they are clearly legible and able to be understood. If a document is unclear, it may result in a delay in processing while we request further information or clarification. Always send a COPY of your data, never send your original source documentation. This is for your protection and helps satisfy your facility's record keeping requirements.