Tuesday, August 5, 2014

CMS Issues 2% Increase in SNF Rates for FY2015

Elise Smith

On July 31, 2014, the Centers for Medicare & Medicaid Services (CMS) issued a final rule outlining Fiscal Year (FY) 2015 Medicare payment rates for skilled nursing facilities (SNFs).

As in the proposed rule released by CMS earlier this summer, SNFs will see a 2 percent increase in their Medicare rates. This is an estimated $750 million increase and represents a higher update factor than the 1.3 percent update finalized for SNFs last year. This estimated increase is attributable to a 2.5 percent market basket increase, reduced by the 0.5 percentage point multifactor productivity adjustment required by law.

CMS has a fact sheet explaining the key aspects of the final rule.

The FY 2015 SNF PPS final wage index file can also be found on CMS' website.

The entire final rule can be downloaded from the Office of the Federal Register.

AHCA's President & CEO Mark Parkinson issued a statement following the release of the final rule:
“The two percent market basket increase to providers’ Medicare reimbursement included in this rule is welcome news for skilled nursing providers. Multiple government reductions in recent years have strained long term and post-acute care providers. A stable, reliable Medicare payment system is one important element in keeping skilled nursing care accessible to our seniors.  
“AHCA will continue working together with CMS and the Administration to ensure Medicare remains a strong program for its beneficiaries requiring skilled nursing services.”

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