ECONOMICS

Detailed explanation-1: -Cost reports are generally prepared by Cost Consultants and sometimes Quantity Surveyors to keep the client informed about the Project Cost. A cost report includes the costs incurred by the time of reporting and all the future costs (Forecast Cost) that is likely to be incurred during the rest of the project.

Detailed explanation-2: -A cost report will generally include all the costs incurred by the date of the report, where they are known, a forecast of the costs likely to be incurred during the rest of the project, in so far as these can be foreseen and estimated, and risk allowances for the possibility of unforeseeable costs.

Detailed explanation-3: -The cost report contains provider information such as facility characteristics, utilization data, cost and charges by cost center (in total and for Medicare), Medicare settlement data, and financial statement data.