Skilled nursing providers will receive a net 1.8% pay hike in Medicare reimbursements, beginning Oct. 1.
The Centers for Medicare & Medicaid Services revealed the modest rise for the SNF Prospective Payment System rates on July 27. Providers were relieved.
“After years of reimbursement volatility, today’s update to Medicare payments is welcome news to skilled nursing providers,” said Mark Parkinson, president and CEO of the American Health Care Association.
The 1.8% rate hike reflects a nursing home market basket (inflationary) adjustment rate of 2.5%, minus 0.7% for the mandated Multifactor Productivity (MFP) adjustment. SNF PPS rate schedules vary by region.
From the September 01, 2012 Issue of McKnight's Long-Term Care News
