- February 19, 2015
11:30 am - 1:00 pm
Mastering Financial Management & Calculation of the Hospice Aggregate Cap”
February 19, 2015
Presented By: Ted Cuppett, BS, CPA
In recent years, an increasing percentage of hospices have exceeded their aggregate CAP; similarly, a growing percent of hospices are ending their CAP year close to the CAP threshold. A provision of the recently-enacted IMPACT Act will slow the annual rate of growth of the aggregate CAP, potentially placing more hospices at risk for a CAP liability. The Centers for Medicare & Medicaid Services (CMS) has mandated that hospices, beginning with the 2014 CAP year (Nov. 1, 2013 through Oct. 31, 2014) calculate and self-report their hospice aggregate CAP status and submit payment of any associated liability within 5 months of the close of the CAP year. As part of the final rule, CMS indicated that it would be providing a pro-forma spreadsheet for calculation of the cap and instructions on how to calculate the cap. CMS has not yet released the spreadsheet or instructions, but there are steps that hospices should take now to be ready for this obligation.
Given these changes, it is prudent that every hospice program more closely monitor its aggregate CAP status throughout the course of the year. Accuracy and appropriate timing of the CAP calculation play a critical role in minimizing interim payments, as does knowledge of a hospice’s options related to Extended Repayment Schedules (ERS). This session will provide attendees with general knowledge and skills to effectively monitor their aggregate CAP, and manage CAP reporting as well as any associated CAP liabilities.