Late on Friday, July 27th, the Centers for Medicare & Medicaid Services (CMS) officially released an update notice on the SNF PPS for fiscal year (FY) 2013.
According to the notice, SNFs are receiving an approximate 1.8% increase to Medicare payments. That’s a significant relief for those thinking back to last year’s SNF PPS rule, which reduced Medicare payments by more than 11%.
This year, SNFs receive a 2.5% market basket update (cost of living adjustment), but a 0.7% productivity adjustment due to the Affordable Care Act’s 10-year plan to reduce Medicare payments to SNFs by $14.6 billion. This results in a 1.8% increase or approximately $670 million.
The updated payment rates for SNFs are effective October 1. The notice will be published in the Federal Register on August 2.
To download the SNF PPS payment rates for FY 2013, click here. A comparison of these payment rates with those for FY 2012 can be downloaded here.
It is important to note that this notice is not a proposed rule. Unlike the usually proposed rule process—with the release of the proposed rule, subsequent comment period and then a final rule—CMS is only making statutory update adjustments to Medicare Part A, rather than proposing any new regulations that could radically affect payments. CMS originally announced its intent to forgo the proposed rule process for FY 2013 in April 2012.
To read the complete notice from CMS, click here.
According to the notice, SNFs are receiving an approximate 1.8% increase to Medicare payments. That’s a significant relief for those thinking back to last year’s SNF PPS rule, which reduced Medicare payments by more than 11%.
This year, SNFs receive a 2.5% market basket update (cost of living adjustment), but a 0.7% productivity adjustment due to the Affordable Care Act’s 10-year plan to reduce Medicare payments to SNFs by $14.6 billion. This results in a 1.8% increase or approximately $670 million.
The updated payment rates for SNFs are effective October 1. The notice will be published in the Federal Register on August 2.
To download the SNF PPS payment rates for FY 2013, click here. A comparison of these payment rates with those for FY 2012 can be downloaded here.
It is important to note that this notice is not a proposed rule. Unlike the usually proposed rule process—with the release of the proposed rule, subsequent comment period and then a final rule—CMS is only making statutory update adjustments to Medicare Part A, rather than proposing any new regulations that could radically affect payments. CMS originally announced its intent to forgo the proposed rule process for FY 2013 in April 2012.
To read the complete notice from CMS, click here.
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