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Resources: Physician Fee Schedule, Kentucky Medicaid, Medicare Updates and more
Physician Fee Schedule Changes of 3/9/2024
On March 9, 2024, President Biden signed the Consolidated Appropriations Act, 2024, which included a 2.93 percent update to the CY 2024 Physician Fee Schedule (PFS) Conversion Factor (CF) for dates of service March 9 through December 31, 2024.
Click here to visit the CMS website to learn more.
Kentucky Medicaid to Utilize PDPM CMI at 7/1/2024
The Kentucky Department for Medicaid Services will be implementing Patient Driven Payment Model (PDPM) rate methodology effective July 1, 2024. The first Preliminary Resident Listing for 1/1/24-3/31/24 should be available in the Myers & Stauffer web portal at the end of April. Please be watching for this report.
Contact Hargis if you would like us to update your 7/1/24 Projected Medicaid rate with your 1/1/24-3/31/24 PDPM CMI. You may call us at (270) 726-4033 or email us at: accountants@hargisandassociates.com
Providers Required to Submit Managing Employee Information to Provider Enrollment Records Immediately
This notice provides clarification that SNF providers should not wait for the revalidation to submit any missing medical director or administrator via the Change of Information (COI) submission as soon as possible.
KY Medicaid Reappraisals
National Valuation Consultants, Inc (NVC) has completed the appraisal process for nursing facilities. These reappraisals will be used to determine the facility’s depreciated replacement value. This value will be used to calculate the capital component on the quarterly rates, effective with the July 1, 2024 rate. The NVC reports will be released to Providers by May 31st. If you have questions or need assistance reviewing these reports let us know. All clients, please forward a copy of the reappraisal report to your Client Manager.
Skilled Nursing Facility Prospective Payment System Proposed Rule
For FY 2025, CMS proposes updating SNF PPS rates by 4.1% based on the proposed SNF market basket of 2.8%, plus a 1.7% market basket forecast error adjustment, and a negative 0.4% productivity adjustment.
Click here to visit the CMS website to learn more.
