After you go through the entire, sometimes arduous process of producing and submitting a cost report, you may wonder how long it will take your MAC (Medicare Administrative Contractor) to approve the report.
Per CMS regulations, a MAC has thirty days from the time that a cost report is received to either accept or reject it.
In practical terms, this means that if a cost report is submitted late, it may take up to thirty days for the cost report to get approved, and another several days for the facility’s payments to go off withholding. (For more information, see our blog on filing cost reports late.)
If a cost report was submitted on time, even though it may take the MAC thirty days to accept it, it will not impact the facility. This is because as long as the cost report is submitted on time, the payments will not get withheld even if the cost report has yet to be approved.
It is worthwhile to note that when you mail a cost report, you should always use courier mail or some other option that allows you to track the report. Make sure to obtain a receipt. The receipt will be proof of date of submission of the report, in case the MAC misplaces it.
Disclaimer: This blog does not contain legal advice. What it does contain are our best
explanations, advice, and suggestions to help facilities and cost report preparers to understand the cost report forms and reporting process and offer suggestions for their preparation. Progressive Provider Services assumes no legal responsibility for the content of this blog, nor for cost reports or other reports prepared based on the content herein.