Home Health & Hospice Accounting FAQ

We offer comprehensive accounting services for home health agencies including Medicare cost report preparation, Medicaid billing support, bookkeeping, payroll processing, tax planning and preparation, and financial statement preparation.

Medicare cost reports are required to be filed annually for home health agencies that participate in Medicare. Our team helps you file accurately and on time to maintain compliance.

A Medicare cost report is an annual filing that home health agencies and hospices must submit to CMS (Centers for Medicare & Medicaid Services). It reports the agency's costs and statistics to CMS. CMS uses the data for rate-setting and oversight, and the report is required to keep Medicare payments flowing. Accurate cost reports are critical for avoiding penalties.

Yes, we specialize in accounting services for hospice organizations including hospice Medicare cost reports, Medicaid billing, cap accounting, bookkeeping, tax planning, and financial statement preparation.

We serve clients throughout Chicagoland and Illinois, including Chicago, Naperville, Oak Brook, Wheaton, Glen Ellyn, Hinsdale, Downers Grove, Elmhurst, Schaumburg, and surrounding suburbs.

Our fees vary depending on the scope of services. Medicare cost reports are a flat $1,599.99 (low or full utilization) or $500 (no utilization). Other services are quoted after a free 20-minute call.

Yes, we offer complete payroll processing services including payroll tax filings, W-2 preparation, and employee benefits administration for home health agencies and hospice organizations.

Bookkeeping focuses on recording daily financial transactions, while accounting includes analysis, tax planning, and strategic financial advice. We offer both services to meet your agency's needs.

Switching CPA firms is straightforward. Contact us to discuss your needs, and we'll handle the transition process including contacting your previous accountant for relevant documents, with your authorization.

Yes, we can serve clients remotely throughout Illinois and beyond. Our cloud-based systems allow us to efficiently handle bookkeeping, payroll, and other accounting tasks regardless of location.