LeadingAge Kansas contracts with Bland & Associates for assistance with reimbursement-related analysis, articles for members and technical assistance on an as needed basis for our members. The firm does work for long term care and health care providers in Kansas. As the deadline for filing costs reports is upon us, Kailey Riskowski offered this tip:
“COVID expenses should be classified on the cost report based upon the type of expense incurred. For example, we have clients who have created an account “Nursing Supplies-COVID”; those costs would be grouped in Direct Healthcare with the regular nursing supplies accounts. If you only have one general ledger account, where all COVID expenses are recorded, we recommend you either reclassify the COVID expenses within the cost report, or in the accounting software to accounts/cost report lines that identify the type of expense (and that it is COVID-related (e.g. Nursing Supplies-COVID), if a journal entry is recorded in the accounting software).“ LeadingAge Kansas encourages members to consult their cost report preparer on this topic.
