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.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
