MCR Neglect May Cost You
Providers who don’t fill out their Medicare Cost Reports (MCRs) don’t understand the impact the data has on their payments, according to CMS. By law, providers are required to submit cost reports annually. CMS says, however, that many are failing to do so.
CMS and the MedPAC use MCR data to evaluate PPS payments. If MCR data is incorrect or inadequate, CMS says PPS payments may not be adjusted accurately for factors such as inflation and the labor market.
CMS released Transmittal 362 and MLN Matters article MM6132, dated Aug. 1, to inform contractors they need to educate providers on MCR data usage.