102: Understanding the Impact of New Pricing and Regulatory Changes on Hospice Businesses
(Room Pavilion Ballroom)
11 Jul 16
11:30 AM
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1:10 PM
Tracks:
Educational Session
In January 2016, Medicare implemented a new payment system for routine home care (RHC). Under the new system, hospices are paid one of two daily base rates for RHC, depending on where the day falls during the care episode, 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 reimburse providers for costs incurred over a patient’s time in hospice, but its complexity is expected to yield less financial predictability than the current payment model. This session will provide an in-depth examination of the new payment system, identify elements of the system that will lessen financial predictability, provide tools to assess the impact of the payment changes on hospice financials, and offer guidance on next steps for maintaining a clear sense of a hospice’s financial status. We will also provide insight into other major regulatory changes and their effect on the hospice industry.