As part of the Hospital Readmissions Reduction Program, Medicare will cut payments to 83 percent of the 3,080 hospitals evaluated for the program by anywhere from 0.01 percent to the maximum of 3 percent in fiscal year 2021.
CMS issued part two of its proposed 2022 Medicare Advantage Advance Notice, which updates payment methodologies to Medicare Advantage and Part D plans.
Payment responsibility is shifting from traditional insurers to patients due to the rise of health plans with high out-of-pocket costs. To successfully navigate this trend, provider organizations must focus on improving billing flexibility and transparency for patients.
S&P Global Ratings lowered West Reading, Pa.-based Tower Health's long-term rating three notches due to its deteriorating finances in fiscal year 2020.
In fiscal year 2021, CMS will penalize 2,545 hospitals for having too many Medicare patients readmitted within 30 days, according to federal data cited by Kaiser Health News.