Becker's Healthcare March 21, 2023
General acute care hospitals don’t need a significant increase in 2024 Medicare rates to stay afloat, according to the Medicare Payment Advisory Commission’s annual March report to Congress.
“The Commission anticipates that a fiscal year 2024 update to hospital payment rates of current law plus 1 percent would generally be adequate to maintain FFS beneficiaries’ access to hospital inpatient and outpatient care and keep IPPS and OPPS payment rates close to the cost of delivering high quality care efficiently,” the group of Medicare policy experts wrote.
The updated payment recommendations for 2024 are a departure from how industry groups’ would characterize the financial challenges many hospitals have described in recent years. MedPAC said its new report reflects 2021 data, preliminary...
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