The Obama administration’s decision to finalize a $750 million increase in Medicare payments to long term and post-acute care providers is “welcome news,” the nation’s largest provider advocacy group says.
“Multiple government reductions in recent years have strained long term and post-acute care providers,” says Mark Parkinson, president and chief executive officer of the American Health Care Association/National Center for Assisted Living.
“A stable, reliable Medicare payment system is one important element in keeping skilled nursing care accessible to our seniors.”
The increase, which will take effect in fiscal 2015, had been expected. The federal government annually takes new looks at each health care sector’s Medicare “market basket” to determine pay rates for the following year. Under a proposed rule still pending, home health providers would see their share decrease in fiscal 2015.
The administration announced the proposed pay hike for long term and post-acute care in May. In fiscal 2014, providers were given a 1.3 percent Medicare increase.
Bill Myers is Provider’s senior editor. Email him at email@example.com. Follow him on Twitter, @ProviderMyers.