In keeping with the practice of updating Medicare payment policies for IPPS hospitals and LTCHs on an annual basis, the CMS has unveiled a proposed rule for fiscal year (FY) 2024. The proposed rule for 2024 introduces changes to payment rates under both IPPS (Inpatient Prospective Payment System) and LTCH PPS (Long-Term Care Hospital Prospective Payment System) along with changes to Social Determinants of Health Diagnosis (SDOH) Codes, New COVID-19 Treatments Add-on Payment (NCTAP) etc.
This blog delves into the key changes as introduced in the proposal.
The new proposed rules by the CMS for FY 2024 hold significant implications for the healthcare industry. The proposed increment in payment rates for healthcare organizations under IPPS will enhance the quality of care, reporting, use of EHRs and ensure equitable reimbursement. At Invensis, we closely monitor these proposed rules and align these with our medical billing services to help practices meet CMS’s vision for FY 2024.
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