Report Materials
EXECUTIVE SUMMARY:
The objective of our review was to determine whether University of Iowa Hospitals and Clinics (the provider) reduced costs reported on its fiscal year 2004 Medicare cost report by the $77,014 vendor rebate it received. The provider did not reduce costs reported on its fiscal year 2004 Medicare cost report by $70,056, contrary to Federal regulations and Centers for Medicare and Medicaid Services (CMS) guidance.
We recommended that the provider (1) revise and resubmit its 2004 Medicare cost report, if not already settled, to properly reflect the $70,056 rebate as a credit reducing its health care costs and (2) consider performing a self-assessment of its internal controls to ensure that future vendor rebates are properly credited on its Medicare cost reports. The provider agreed with our recommendations.
Notice
This report may be subject to section 5274 of the National Defense Authorization Act Fiscal Year 2023, 117 Pub. L. 263.