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Financial Services

Delivering Financials That Yield Strategic Insight

The constantly shifting health care regulatory landscape requires experienced professionals who can provide thoughtful and accurate guidance. BKD National Health Care Group advisors understand the ins and outs of health care operations and the risks involved. We offer a multitude of financial services for home care and hospice groups that include audit, tax compliance and accounting outsourcing. Select one of the service areas below for details.

Audit

Health care providers need auditors who understand health care operations and risk. BKD performs audits for thousands of health care providers nationwide. 

BKD’s audit and assurance solutions can help clients secure financing rated by national rating agencies and obtain insured bond issues approved by HUD- or AAA-rated bond insurance companies. Our auditors are trained to address specific health care risk areas, including:

  • Accounts receivable valuations
  • Third-party settlements
  • Malpractice reserves
  • Investment valuation
  • Revenue recognition
  • Internal controls
  • Employee benefit plans

Tax Services

Need assistance with tax issues facing your organization? BKD offers a wide variety of services to help exempt and for-profit long-term care and senior living providers identify risks and stay compliant.

Learn more.

Accounting Outsourcing

BKD provides a wide range of outsourcing services to meet your company’s accounting, tax, financial management and consulting needs. Our services allow you to concentrate on what you do best. Here's a look at some of our outsourcing services:

  • Internal audits
  • Financial statement preparation
  • General ledger maintenance
  • Monthly and year-end closing assistance
  • Payroll and sales tax return preparation
  • Account reconciliations
  • Controller and bookkeeper staffing
  • Payroll and accounts payable processing
  • Accounting systems design
  • Accounting staff training
  • Depreciation schedules
  • Accounting software assistance

Learn more.

Cost Reports

Health care cost reporting is about compliance and reimbursement. BKD is one of the country's largest providers of Medicare and Medicaid cost report preparation services. We've prepared thousands of cost reports for hospitals and senior residential facilities, including long-term care centers, nursing facilities, life plan communities, home health agencies, community health centers and rural health clinics.

Preparation of annual Medicare and Medicaid cost reports is the foundation of our reimbursement services. We help providers keep up with reporting requirements while working to complete timely reports. Our services help you interpret the results of your cost reports so you know if you make or lose money on individual service lines.

For some providers, the cost report has a direct impact on Medicare and Medicaid reimbursement. For many others, unique provisions can affect reimbursement if properly presented on the cost report. Our CPAs and advisors can assist you in analyzing your reimbursement situation so you understand how you're being paid compared to the cost of service to Medicare and Medicaid patients.

For our home health and hospice clients, we provide benchmarking analyses in addition to cost report preparation. This operations analysis is based on information in the Medicare cost report and compares your agency’s data to other home care and hospice agencies.

Benchmarking

Finding benchmarking information for home health agencies is challenging. BKD has developed an operational dashboard report for home health agencies designed to help you operate more effectively. The National Home Health Operations Dashboard Report is an individually customized comparison of your home health agency’s utilization, cost and profitability data to other selected home health agencies, agencies in your home state and agencies nationwide.

BKD built the dashboard from some of the most complete data available for any benchmarking product on the market. The Medicare cost reports of free-standing and provider-based home health agencies—obtained directly from the Centers for Medicare & Medicaid Services—serve as the source. Powerful algorithms developed by BKD translate this data into meaningful indicators, organized in an easy-to-read and easy-to-reference format. Key indicators in the report include:

  • Visits per episode
  • Staff hours per visit
  • Detail cost per visit by discipline
  • Average case-mix weight
  • Episode adjustment mix
  • Average payment per episode
  • Detail cost per episode
  • Average profitability per episode
  • Overall agency profit margin
  • Salaries as a percent of total cost

How can we help you?

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Locations

We have 38 offices in 17 states, with trusted advisors who offer solutions for clients across the country.

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