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How the New Medicare-Medicaid Crossover Change Will Affect Your LTPAC’s Financial Statements

Posted by Liz Lane, CPA, Manager of Accounting Services on Jul 12, 2019 2:22:27 PM

This past April, the Centers for Medicaid and Medicare Services (CMS) issued guidance on how crossover bad debts are to be recorded within the income statement. Typically, these amounts are written off to a contractual allowance revenue account. With this new guidance, these unpaid amounts for Medicare-Medicaid crossover claims must correctly be classified to a bad debt expense account.

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Topics: Medicaid Consulting