The Case for Cost Reports

In our series on cost reports, we looked at why they still make sense, provided rationale for that position, addressed key considerations that support our position, provided insight into the federal perspective, and brought it all together in three case studies [links]. With all those things in mind, in this post, we discuss how we can help you address any or all these issues along with their attendant concerns and challenges. We also detail our portfolio of services and explain why you should choose us to help.

Established in 1977, Myers and Stauffer is a nationally based consulting and certified public accounting (CPA) firm. Since then, we have worked exclusively with local, state, and federal government health and human-services agencies to help them accomplish their most critical goals for the nation’s most fragile people.

Our audit teams collectively represent one of the firm’s largest and strongest practice areas. Our Medicaid cost report experience is extensive and spans nearly five decades as one of the firm’s flagship services. Over this time, we have performed limited- and full-scope examinations, limited- and full-scope desk reviews, and have set rates or calculated cost settlements for numerous provider types. We have also developed procedural methodologies responsive to Medicaid program needs for cost-effective engagements that target the highest-risk factors affecting reimbursement.

Our approach incorporates a risk-based philosophy designed to ensure material cost-reporting misstatements are detected, while minimizing the application of audit procedures where the risk of misstatements is small. Using sophisticated analytical and testing methods, Myers and Stauffer can identify erroneous and/or abusive cost-reporting practices. Our efforts have saved state agencies millions of dollars, while at the same time ensuring program policies are based on accurate cost and statistical information.

Our audit and attest experience includes these program areas: