Medicare Cost Report (MCR)
What is a Medicare Cost Report (MCR)?
A Medicare Cost Report (MCR) is a financial account submitted from Medicare-certified entities, such as skilled nursing facilities, hospitals or hospices, to a Medicare Administrative Contractor (MAC). Each entity updates its report at the end of its fiscal year, and MCRs publish quarterly.
The Centers for Medicare and Medicaid (CMS) utilizes a Healthcare Provider Cost Reporting Information System (HCRIS) to oversee MCRs.
Information in an MCR includes
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Utilization data
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Characteristics of facility
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Financial settlement data
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Medicare settlement data
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Cost and charges by cost center
Why are Medicare Cost Reports (MCRs) important to healthcare?
Medicare Cost Reports are important because they detail and monitor healthcare organizations’ expenses. This information indicates which facilities require or owe reimbursement. MCRs also show regulation changes and ensure expense reimbursement is accurate and current.
Definitive Healthcare leverages data from the Medicare Cost Report within its platform to provide added healthcare commercial intelligence on healthcare organizations.