The Centers for Medicare & Medicaid Services (CMS) issued a final rule (CMS-1769-F) to update Medicare payment policies and rates for the Inpatient Psychiatric Facility Prospective Payment System (IPF PPS) for fiscal year (FY) 2023. Here’s a summary of the key provisions, which are effective October 1, 2022:
- Updated payment rates by 3.8% with estimated payments to increase by 2.5% (or $90 million) after productivity adjustment
- In order to mitigate instability in IPF PPS payments due to significant wage index decreases that may affect providers in any given year, CMS will apply a 5% cap on decreases in the IPF PPS wage index for FY 2023 and subsequent years, in a budget neutral manner.
Source: U.S. Centers for Medicare & Medicaid Services (CMS)
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