As a reminder to nursing center providers, the April 30 deadline for cost reports is still in play under the Prospective Payment System (PPS) methodology. Although the official due date is five months after the fiscal year end of a center’s report, providers may want to submit their report by the April 30 deadline if receiving the true PPS calculated rate with no cap or if receiving the hold harmless rate but are very close to flipping to the PPS calculated rate. In those instances, providers may be able to take advantage of increased direct care staffing for the staffing quality component or significant increases to their property pass through components for property insurance and property taxes. Consult your friendly cost report guru to determine if you should file by the April 30 deadline this year.
April 30 is also the deadline for submission of changes or additions of fixed asset data to the AHCA Fair Rental Value (FRV) Survey site. Providers are asked to submit approvals of prior submissions or follow the data collection instructions to submit additions or changes to prior submissions. Keep in mind that in order for additions or changes to be included as part of your FRV basis, renovations or improvement projects must exceed $500 per bed for the year ending April 30, 2019. Only assets that are purchased and placed into service by April 30 will be considered for the October 1, 2019 rate setting.
This article was re-published from the Florida Health Care Association Pulse Newsletter
Lorne Simmons is with MSL CPAs & Advisors, Florida Health Care Association's CPA Consultant. Lorne is located in MSL’s Tallahassee/North Florida office.