Financial Operations & Budgeting

MK Management has over 25 years of experience in operating skilled nursing facilities. MK has extensive experience in developing facilities, working with financial entities for financing, preparing operating budgets and can also monitor, on a daily basis, the financial operations of a facility, if necessary. We implement the necessary tools that allow our clients to achieve their desired goals but only after careful consideration is given to resident care and regulatory service. Listed below are some of the financial areas that we handle for our clients:

• Preparation of Monthly Statements
• Tools to control cost overages & monthly monitoring of cost, if necessary
• Monthly monitoring of financial statements
• Cash Management
• Review of all contracts from financial and operational standpoint                            
• Collection of Accounts Receivable
• Use of our in-house Accounts Receivable package
• Approval of all capital purchases
• Review of quotes and necessity of capital purchases
• Payment of all trade payables
• Correspondence with IRS for payroll and wage issues
• Audits by IRS
• Preparations of required cost reports from Medicare, Medicaid, Va, etc…
• Audits of cost report information
• Attaining property insurance, liability insurance, and workman compensation insurance
• Maintaining competitive employee benefits which includes health insurance
• Preparation of yearly projections an budgets
• Monitoring, when necessary, the competitive market for employee wages and benefits
• Compliance with labor boards
• Tools to improve the efficiency of all departmental operations