State: District of Columbia
Subject Matter: Medicare Program Prospective Payment System and Consolidated Billing for SNFs
CMS To Hike Skilled-Nursing Payments By 1.8%
WASHINGTON, DC â€“ 7/29/12 â€“ (Modern Healthcare) The CMS will increase its skilled-nursing facility payment rates by 1.8% on Oct. 1, according to a notice from the agency posted on the Office of the Federal Register’s website. The rate increase is expected to boost payments by $670 million for than 15,000 Medicare-certified skilled-nursing facilities paid under the SNF prospective payment system.
The annual increase was based on a marketbasket index that reflects changes in the prices of goods and services used by nursing homes, plus a multifactor productivity adjustment required by the Patient Protection and Affordable Care Act. The new rate is based on a 2.5% marketbasket-adjusted 0.7% productivity cut.
The notice also updated the SNF monitoring activities the agency is using to track the impact of policy changes it implemented in the payment system for fiscal 2012. To see the notice, go to https://s3.amazonaws.com/public-inspection.federalregister.gov/2012-18719.pdf
Document Date: July 30 2012
Search Tags: CMS Medicare reimbursement snfs