Whether your business is starting its calendar year or in the middle of its fiscal year,nowis the best time to evaluate and measure operational performance, especially measured against your operating budget.
Recently, you may have heard that the Centers for Medicare and Medicaid Services (CMS) has increased the Medicaid rate for skilled nursing facilities in Missouri. Facilities can expect a $7.76 per diem increase to the paid Medicaid rate retroactive to 7/1/18. Click here to review the CMS approved amendment regarding this increase.
For many, this could be budget neutral, while others could face a serious financial impact. The new rate will be applied based on the timing of the Medicaid claim submissions. The State is working on a mass adjustment to be processed during the first pay cycle on the January 18, 2019 check, however it is possible it could be delayed until the next pay cycle.
Outside of this rate enhancement, the rate structure has remained unchanged and facilities should continue to be diligent to affect change with legislators.
The partners and reimbursement specialists at Mueller Prost are re-evaluating all of our filed cost reports to consider this change in the rate and facility expenses. We will be contacting all of our current cost report clients personally to review our findings and think strategically for the 2019 year.
If you are not a current Mueller Prost cost report client, please contact us for a full evaluation of Medicaid revenue and to budget for the future.