Fundamentals of Cost Calculations
This webinar will provide the attendee with the core fundamentals surrounding cost calculations for ambulance services including:
* Cash vs. Accrual accounting and what is required by Medicare
* The differences in direct and indirect costs and how to report each category
* The importance of correctly calculating labor costs
* How equipment, consumables, and supply costs are reported and ideas for how to best begin collecting this information
* How EMS industry standards may not always align with CMS definitions and what to do when they don’t
Cost data collection will allow the ambulance industry to being aligning EMS-specific costs with other elements to help streamline and standardize accounting and financial management practices. This webinar will explore how to begin collecting essential data and how to report costs that may not have been segregated prior to this requirement. Correctly collecting and reporting costs will help ensure the accuracy of the data that is received by CMS and in turn, provide valuable information for payment reform.