Assessing the Financial Impact of the New Hospice Payment System is proudly presented to you by National Association for Home Care & Hospice. Thank you. We hope that you enjoy your course.
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 (7) 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.
Objectives:
- Describe, in detail, the structure of the new payment system for RHC under the Medicare hospice benefit.
- Identify elements of the payment system that reduce financial predictability.
- Utilize tools to assist in projecting the financial impact of the payment changes.
- Identify “next steps” that will assist hospices in monitoring financial status.
Faculty: Patrick Brown, Chief Financial Officer, Penn Home Care and Hospice Services, Bala Cynwyd, PA, and Mark P. Sharp CPA, Partner, BKD LLP, Springfield, MO
Continuing education units are not available for this module
Track: Hospice