Here are three things to know.
1. For fiscal year 2018, the payment rates under the prospective payment system for skilled nursing facilities will increase 1 percent compared to fiscal year 2017, in accordance with the Medicare Access and CHIP Reauthorization Act. CMS estimates payments to SNFs will increase $370 million in fiscal year 2018.
2. CMS also finalized proposed revisions to the SNF quality reporting program for pressure ulcers and eliminated the all-cause readmission measure from the program. The final rule also includes a value-based purchasing program slated to begin Oct. 1, 2018. The program will assess readmission rates and other specified measures.
3. The SNF final rule takes effect Oct. 1, 2017.
More articles on healthcare finance:
CHS expects $137M net loss in Q2, says divestitures will continue
Kindred to close Ohio hospital, lay off 111 employees
HCA sees Q2 earnings lag, stays ready for more acquisitions
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.