Description
each question 200 words
1)Describe the key elements of the Medicare cost report. Why is this report so important for hospital net revenues? 200 words
2)Medicare payments to providers are heavily based on DRGs and APCs today. Explain how DRGs and APCs work, and discuss how they impact hospitals in particular. 200 words
3)A key aspect of the Patient Protection and Affordable Care Act is rewarding hospitals for strong performance and penalizing them for quality issues, such as high infection rates and high readmission rates to the facility. Explain the details of how PPACA rewards and punishes hospitals for their performance. 200words
Explanation & Answer
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Running head: HEALTHCARE FINANCIAL REPORTS
Healthcare Financial Reports
Student’s Name
Institution Affiliation
1
HEALTHCARE FINANCIAL REPORTS
2
1. Medicare cost report
By description a Medicare cost report is a series of worksheets and schedules that
describe a healthcare institution’s financial information, characteristics, charges and
costs.
The key elements that make up a Medicare cost report are;
•
Facility characteristics- which are the ownership status of the institution, the
type of facility and the kind of services the institution offers.
•
Financial information-which is made up of the healthcare’s revenue, costs,
expenses, charges and any debt the institution might have.
•
Wage data- which is the amount of money that goes into paying salaries and any
other services offered by individuals on behalf ...
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