Cost Report for Health Care

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Do you have CMS Cost Report Compliance Needs? We are a professional accounting firm which prepares Medicare Cost Reports and Medicaid Cost Reports throughout the United States.

 Medicare cost report preparation is a complex, ever-changing and exacting legal obligation. Since both compliance and accuracy in Medicare cost reporting are key to uninterrupted and maximized CMS reimbursements, it is of crucial importance to the financial health of your organization. Siby K.Mathew,CPA is one of the dedicated providers of Medicare reimbursement and cost report services. With emmence experience of Medicare cost reporting experience, our team has the expertise that you need to turn your Medicare cost report preparation into a seamless and inexpensive opportunity to optimize your revenue. 

 We prepares annual Medicaid cost reports, schedules, and electronic submission files. We also prepare the “Crosswalk” which ties our clients’ books to their cost reports and provides a necessary audit trail.With over good years of combined Medicaid cost report preparation experience the our team has the experience and in-depth knowledge needed to ensure that you receive timely reports and maximized reimbursements. 

 An audit provides the highest level of assurance. An audit is a methodical review and objective examination of the financial statements, including the verification of specific information as determined by the auditor or as established by general practice.Our work includes a review of internal controls, testing of selected transactions, and communication with third parties. Based on our findings, we issue a report on whether the financial statements are fairly stated and free of material misstatements. 

Less extensive than an audit, but more involved than a compilation, a review engagement consists primarily of analytical procedures we apply to the financial statements, and various inquiries we make of your company's management team. If the financial statements or supporting information appear inconsistent or otherwise questionable, we may need to perform additional procedures.A review doesn't require us to study and evaluate your company's internal controls or verify data with third parties or physically inspect assets. Rather, a review report expresses limited assurance in the form of the statement: "We are not aware of any material modifications" for the financial statements to be in conformity with the Generally Accepted Accounting Principles (GAAP). Reviewed financial statements must include all required footnotes and other disclosures.Why might a business request a review engagement? It can be a good middle ground, providing the advantages of a CPA's technical expertise without the work and expense of an audit. 

 In compiling financial statements for a client, we present information that is the "representation of management" and expresses no opinion or assurance on the statements. Compilations don't require inquiries of management or analytical procedures. Instead, we rely on our knowledge of accounting principles and a general understanding of your business.Banks often require compilations from an independent CPA as part of their lending covenants. 

Plan your taxes and retirement as early as possible. We can help you to legally reduce your tax liability and save more for retirement through proper planning.