IPPS /LTCH Final Rule — Increasing Operating Payment Rates by 3.1%
Hospitals contend that the 3.1 percent increase in payments linked to quality reporting is insufficient to address the rising inflationary pressures. The Centers for Medicare & Medicaid Services (CMS) has officially published the final rule for the Hospital Inpatient Prospective Payment System (IPPS) and Long-term Care Hospital Prospective Payment System (LTCH PPS) in the Federal Register on August 28.
Effective from October 1 for fiscal year (FY) 2024, there will be a 3.1 percent rise in operating payment rates for general acute hospitals falling under IPPS. This marks a 0.3 percent increase over the agency’s initially proposed 2.8 percent increase in April. The 3.1 percent hike applies to general acute hospitals that actively participate in the Hospital Inpatient Quality Reporting (IQR) Program and demonstrate meaningful use of electronic health records (EHRs).
According to the CMS’ FY 2024 IPPS and LTCH PPS final rule Newsroom Fact Sheet, hospitals will experience various payment adjustments under IPPS, including:
- Payment reductions for excessive readmissions through the Hospital Readmissions Reduction Program (HRRP).
- A 1 percent payment reduction for hospitals in the worst-performing quartile under the Hospital Acquired Condition (HAC) Reduction Program.
- Adjustments, both positive and negative, under the Hospital Value-Based Purchasing (VBP) Program.
https://www.allzonems.com/ipps-ltch-final-rule-increasing-operating-payment-rates/
How Allzone Assist in Medical Billing Process:
Allzone helped many healthcare providers across the United States to optimize their medical billing process with our knowledgeable experts. Our billing experts have sound knowledge of 40+ billing software and 60+ medical specialties with over 10 billion transactions over a year.
We have two major facilities in India that ensure 100% privacy and data security & 200% power backup. So, no worries about service outages. We put our employees in regular training on industry updates and are aware of all changes in HIPAA rules.
Allzone Management Services Inc. is a medical billing company and our support in the medical billing process helps healthcare providers and medical billing companies across the United States. Our other services include Denial management, Claim Submission, Insurance verification services, and many more healthcare management services.
Do you need free medical billing consultation?,please contact +81–866–854–2714 , sales@allzonems.com.
