Understanding Skilled Nursing Facility Cost Reports: Key Insights
When it comes to long-term care, skilled nursing facilities (or SNFs) are an essential part of the healthcare system. They bridge the gap for patients who require ongoing medical attention but no longer need the intensive resources of a hospital. Like other healthcare providers, SNFs operate in a highly regulated environment and deliver a comprehensive […]
Home Health Agency (HHA) Cost Report Essentials: A Brief Guide
In home healthcare, providing quality care isn’t the only measure of success, financial accuracy, and regulatory compliance matter just as much. That’s where the Medicare cost report comes in. For home health agencies (HHAs), knowing how to correctly prepare and submit these reports is essential for receiving proper reimbursement, as well as for maintaining good […]
Mastering Accrual Accounting in Healthcare
In healthcare, financial accuracy is more than a back-office concern; it directly affects a provider’s ability to serve patients, plan for their growth, and remain in compliance with regulations. Understanding how financial transactions are recorded and choosing the right accounting method is important. While some small practices still use cash accounting, the majority of healthcare […]
Making Sense of the Medicare Cost Report: What Providers Need to Know in 2025
When it comes to Medicare compliance, one document that healthcare providers can’t afford to overlook is the Medicare Cost Report. Even if your organization billed only a modest amount to Medicare during the year, you’re not necessarily off the hook. Whether you’re running a hospice, a home health agency, a mental health facility, or a […]
Mastering the Preparation of Financial Statements: A Practical Guide for Healthcare Providers
When you think of your clinic, therapy office, or independent hospice practice, what comes to mind first? Likely not your financial statements. Yet these documents are the foundation of your business’s financial status, its growth potential, and its regulatory readiness. Whether preparing to secure funding, planning for expansion, or simply making smarter day-to-day decisions, mastering […]
Navigating the Self-Determined Hospice Cap Report: Essential Insights
Introduction to Hospice Care Reimbursement As readers of our ongoing article series know, we at Walters regularly work with hospice care providers to help them understand the intricacies of complex Medicare program reimbursement systems. For one, it’s important for them to know how best to follow the various rules and regulations – it is the […]
Average Length of Stay: Valuable Insights for Healthcare Providers
The Average Length of Stay (ALOS), a typical metric associated with hospitals, is also a crucial benchmark to understand how other healthcare settings such as independent practices, hospices, clinics, and nursing homes are performing. While it may appear as merely a numerical reflection of a patient’s health response to treatments, it can also work as […]
Optimizing Staff-to-Patient Ratio for Better Healthcare Outcomes
When it comes to delivering great care, or as is known in the healthcare world, quality outcomes, few numbers matter more than the staff-to-patient ratio. For healthcare providers who deliver this care, especially smaller practices like hospices, clinics, etc., this number isn’t just a measure of workforce size but a key performance indicator that determines […]
Effective Internal Audit Healthcare Accounting
Top Strategies for Effective Internal Audit in Healthcare Accounting In healthcare, staying ahead of regulatory changes, ensuring patient safety, and optimizing daily operations are essential – it’s the holy grail when it comes to an effective strategy for healthcare business success. And for independent healthcare providers such as private practices, hospices, clinics, and therapy offices, […]
Financial Challenges in Home Healthcare
Navigating Financial Challenges in Home Health Care: Solutions Ahead Navigating financial challenges in home healthcare requires a balance between delivering quality patient care and maintaining fiscal responsibility. For many healthcare businesses, such as independent practices, hospices, clinics, and especially home healthcare agencies, understanding and addressing financial challenges is of utmost importance to ensuring both operational […]
