Federal and state regulations require many healthcare providers to report expenses on an annual basis. The Centers for Medicare and Medicaid Services (CMS) sets nationwide reporting requirements for providers that receive reimbursement from Medicare and/or Medicaid. State health agencies may have their own additional requirements. Failing to prepare these reports correctly can result in delayed reimbursement or denial of claims. Annual cost reports, therefore, become an essential task for healthcare providers that rely on these programs. The following five tips can help providers meet their regulatory obligations efficiently and effectively.