Medicare/Medicaid Cost Reporting Analyst
About The Position
The Medicare/Medicaid Cost Reporting Analyst is responsible for preparing Medicare/Medicaid Cost reports by developing supporting schedules and work papers in accordance with government cost reporting principles. This role involves entering data into Medicare/Medicaid Cost Report Software and requires progressive knowledge of Center for Medicare & Medicaid Services (CMS) cost reporting, DSH exam log files, IME/GME, Medicare Wage Index, Medicaid cost reporting, and HCAP/Uncompensated Care. The analyst will also be responsible for the 340B Trial Balance, registration, and recertification. In Cost Accounting, the role involves classifying new cost centers by analyzing labor against revenue, reclassifying expenses, and allocating overhead. This includes developing and organizing detailed work papers for quarterly costing data, recommending improvements, implementing new processes, collecting and measuring data, and communicating results. For Data Analysis, a strong working knowledge of state & federal cost reporting requirements is needed to extract compliant data using business intelligence software and comparing data to identify variances. In Compliance, the analyst must stay current with CMS and State Medicaid regulations, understand their implications, and proactively support changes. The role also requires modeling regulatory changes to educate leadership. Collaboration involves establishing working relationships with cross-functional teams like IS, reimbursement/billing, and hospital/clinical services to obtain data, assisting external parties during audits, providing reimbursement and regulatory updates to leadership, and assisting department leadership with training and prioritization.
Requirements
- Bachelor's degree in a related field
- 7+ years of work experience in a related job discipline
- 4+ years of Medicare cost reporting experience
- MS Excel, Access, and Business Intelligence experience
- Familiar with CMS Medicare/Medicate cost reports including various cost reporting worksheets included but not limited to Worksheet C, D, G, H, I and B-1 statistics.
Nice To Haves
- Master's degree in a related field
- CPA
Responsibilities
- Prepare the Medicare/Medicaid Cost reports by developing supporting schedules.
- Develop supporting work papers in accordance with government cost reporting principles for management's review.
- Enter data into Medicare/Medicaid Cost Report Software.
- Responsible for 340B Trial Balance, registration, and recertification.
- Responsible for classifying new cost centers by analyzing whether the labor matches the revenue generated and if not revenue whether or not the expense should directly reclassified or indirectly allocated as overhead and which overhead category is appropriate.
- Develop and organize detailed work papers to support quarterly costing data.
- Recommend approaches for improvement activities, recommend and perform new processes, collect and measure data, develop processes based on performance and communicate results.
- Extract compliant data using our existing business intelligence software.
- Compare data to prior year to identity large variances that need further analysis, explanation, and documentation.
- Stay current with the latest CMS and State Medicaid regulations related to cost reporting, reimbursement, and payment methodologies.
- Understand and communicate the implication that changes to regulations will have on the institution and proactively work to support changes to comply with new regulations.
- Ability to model the regulatory changes to engage and educate leadership.
- Establish working relationships with cross-functional teams, such as IS, reimbursement/billing and hospital/clinical services to obtain data for cost reporting needs.
- Assist external parties (auditors, regulatory agencies) during audits including collaborating with other departments across the hospital to manage these requests.
- Provide reimbursement and regulatory updates to varying levels of leadership.
- Assist department leadership with training needs, review of work, and setting daily priorities.
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Mid Level
