News, Payment/economy, Skilled Nursing Facility

Payment rate changes: How will 2014 compare to this year?

On Wednesday, CMS released a proposed rule that would update the payment rates used under the prospective payment system (PPS) for skilled nursing facilities (SNFs) for 2014.

According to CMS, aggregate payments to SNFs will increase by $500 million, or 1.4 percent, from payments in 2013. This estimated increase is attributable to the 2.3 percent market basket increase, reduced by the 0.5 percentage point forecast error correction and further reduced by the 0.4 percentage point multifactor productivity adjustment required by law.

To see a comparison of these proposed payment rates with those for FY 2013, click here.