Crain's Detroit Business
Immediate Access to Latest Hospital Cost Reports Now Available On-line
CostReportData.com launches Web site with latest Hospital Cost Report InformationLOUISVILLE, Ky., November 17, 2004 - For the first time, hospital cost data will be available 24/7, and in a form that is easily downloaded into spreadsheets for analysis. With today's launch of its new website -- www.CostReportData.com -- Cost Report Data Resources begins providing immediate, economical access to detailed hospital financial reports.
"Until now, analysts could only get hospital cost reports by purchasing them from a hospital's fiscal intermediary," said Paul Shoemaker, president of Cost Report Data Resources. "Unfortunately, that process takes time and is often tedious. The requested report is generally provided by intermediaries on paper or in an electronic format that requires the use of special software. By leveraging the Internet, we now make cost report information immediately available, economical, and in formats that are easy to use."
The new website makes information easily accessible in standard worksheet formats that are familiar to analysts who work with cost reports. Individuals can purchase single reports or subscribe for unlimited access.
"Unlike the data obtained through fiscal intermediaries, information at CostReportData.com is updated each quarter or whenever new data is released," said Thomas M. Schuhmann, CPA, JD, a widely recognized reimbursement expert who is a company executive. "You always see the most current status of a cost report and new reports continually become available."
At CostReportData.com, worksheets can be viewed online, printed and downloaded in either pdf or Excel formats. The price for a single report is about the same as a fiscal intermediary's charge for providing one - with the advantage of instant access to data. Users who access multiple reports with a flat subscription fee may significantly reduce their cost of obtaining the data.
Cost Report Data Resources also offers predefined datasets and custom datasets to provide specific data for groups of hospitals. William Shoemaker, head of Business Services, states "We give our clients exactly what they need, quickly and economically."
Information in cost reports includes income statements, balance sheets, utilization statistics, departmental costs and charges, and other important and relevant data. Hospitals that participate in Medicare are required to submit annual Cost Reports containing such data.
The information is later released by the Centers for Medicare and Medicaid Services (CMS) in an electronic format known as the Healthcare Cost Report Information System (HCRIS) dataset. Each worksheet at CostReportData.com includes links to the CMS documentation that explains the data being reported.
Free previews of available reports and formats are available at www.CostReportData.com
Cost Report Data Resources is the industry's first provider of on-line hospital financial information. Data is updated upon release by CMS. Standard format cost reports are available individually or by subscription.
Contact: Barbara Eilert Phone: (502)396-2637 Email: barb@evokeinc.com
George Daffin Phone: (502)558-2196 Email: george@evokeinc.com