While common sense would suggest that larger agencies with bigger resources would have the most helpful financial statements and reports, often the opposite is true. Everyone, and especially healthcare, has felt the growing problem of ‘data bloat’ over the past decades. Financial reporting certainly plays a large part.
Our team at Advanced Hospice Management and our partners at Blackmor, CPA are fortunate to have served in various financial and billing roles for hospices of all sizes, program types and ownership structures. Today, however, we want to focus on some of the common accounting, RCM and financial reporting pitfalls for larger hospices, especially those owned by hospitals or ‘rolled up’ into a larger entity framework.