404: How to Assess the Financial Impact of the New Hospice Payment System
(Room Bayou CD)
29 Oct 15
3:45 PM
-
4:45 PM
Tracks:
Education Leadership Track, Educational Session, Hospice
Starting in January 2016, Medicare will implement a new payment system for routine home care (RHC) under which hospices will be paid one of two daily base rates for RHC depending on where the day falls during the episode of care, as well as a service-intensity add-on (SIA) for specific services delivered during the last seven days of a patient's life. The payment model is designed to more accurately reimbursing providers for costs incurred over a patient's time on hospice, but its complexity is expected to reduce financial predictability in comparison with the current payment model. This session will provide an in-depth examination of the new payment system, identify elements of the system that will diminish financial predictability, provide tools to assess the impact of the payment changes on hospice financials, and provide guidance on "next steps" for maintaining a clearer sense of a hospice's financial status.