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Coronavirus Relief Bill Sets Aside $100B for Providers

By | Blog, healthcare management consulting, MIPS consulting

A relief bill aimed at COVID-19 relief would grant providers an additional $100 billion in aid for expenses related to healthcare and lost revenue caused by the coronavirus pandemic.

The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, passed by the House on the 15th, is a $3 trillion coronavirus relief bill that seeks to supply further direct payments to an extensive array of coronavirus-affected agencies, businesses and even people. Healthcare organizations and agencies would receive a substantial part of the funding. The legislation also makes improvements to accelerated and variable payment plans under the Medicare terms and an improvement in prospective inpatient prospective payment system outlier compensation under patients that have received a COVID-19 diagnosis. The federal matching rate for Medicaid states is now rising by 14 percent and $75 billion has been set aside to support coronavirus testing and contact tracing.

Ever since the execution of a pair of coronavirus relief packages, the Coronavirus Aid, Relief and Economic Security (CARES) Act and the Paycheck Protection Program and Health Care Enhancement Act, hospitals have been petitioning for more federal government funding. Collectively, the packages provided a Provider Relief Fund of $175 billion.

To read more about the HEROES Act, visit https://revcycleintelligence.com/news/latest-coronavirus-relief-bill-seeks-another-100b-for-providers.

This update is provided by CareOptimize. We provide healthcare management consulting services and products and we’ve helped numerous healthcare organizations succeed for more than a decade. We provide managed care solutions as well as products like coding modules, Nextgen EHR utilities, and more. For more information, please call 855.937.8475.

CMS Seeks to Boost Medicare Reimbursement for Inpatients

By | Blog, healthcare management consulting, MIPS consulting

Earlier this week, the Centers for Medicare & Medicaid Services (CMS) proposed a new rule updating the Inpatient Prospective Payment System (IPPS). Beginning in October, CMS is proposing an update of three percent hospital market basket less a productivity adjustment of 0.4 percentage point. The new Medicare inpatient reimbursement rates will also represent a planned change of 0.5 percentage point mandated by legislation.

Along with these changes, the rule would also allocate nearly $7.8 billion in uncompensated care compensation, down $0.5 billion during the 2021 fiscal year. Furthermore, a new technology add-on payment mechanism will be developed for certain antimicrobial products.

Collectively, the CMS changes being proposed in unpaid care payments, new technology add-on payments and capital payments will reduce inpatient Medicare reimbursement rates by 0.4 percent, resulting in a total rise of approximately 1.6 percent in overall rates under the IPPS. These changes, which would affect more than 3,000 acute care hospitals and close to 300+ long-term care hospitals, would impact discharges occurring on or after October 1, 2020, according to CMS.

If you’re interested, the entire CMS rule proposal can be viewed at the following link: https://www.federalregister.gov/documents/2020/05/29/2020-10122/medicare-programs-hospital-inpatient-prospective-payment-systems-for-acute-care-hospitals-and-the. For more information about the rule, please visit the source article: https://revcycleintelligence.com/news/cms-proposes-to-increase-inpatient-medicare-reimbursement-by-1.6.

This update is provided by CareOptimize. We provide healthcare management consulting services and products and we’ve helped numerous healthcare organizations succeed for more than a decade. We provide managed care solutions as well as products like coding modules, next-generation EHR utilities, MIPS consulting, and more. For more information, please call 855.937.8475.