The 3.1 percent increase translates to an estimated increase of $780 million in payments compared to fiscal year 2023. The final rule also caps annual payments per patient in 2024 to $33,494.01, compared to $32,486.92 in 2023.
In March, CMS had originally proposed a 2.8 percent raise for hospice payments. The final rate for 2024 is due to a 3.3 percent inpatient hospital market basket increase adjusted by 0.2 percent for productivity.
The final rule also included quality and compliance updates, with physicians who certify patient eligibility for hospice services needing to be enrolled in Medicare or opted out by May 1 as a prerequisite for payment. Beginning next year, hospice providers that do not meet quality reporting requirements will see a 4 percent reduction in annual payments.
Read the full final rule here.
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