Nursing Home Payment and Finance
We advocate for Medicare and Medicaid payment systems for nursing homes that will appropriately account for essential costs of high quality care. We work with the Centers for Medicare and Medicaid Services (CMS) to obtain the most up-to-date information on payment policies and updates.
On July 11, the Centers for Medicare and Medicaid Services (CMS) released the physician fee schedule proposed rule, which includes provisions relating to implementation of separate payment for chronic care management (CCM) services.
Payment rates used under the skilled nursing facility (SNF) prospective payment system (PPS) for fiscal year (FY) 2015 were updated on Aug. 5 in a final rule issued by the Centers for Medicare and Medicaid Services (CMS).
Oct. 1, 2015, is the new ICD-10 compliance date for providers, according to a final rule issued July 31 by the U.S. Department of Health and Human Services (HHS).
We have updated the Medicare Part-B rate calculation tool for final rates reflecting provisions of the Bipartisan Budget Act signed into law in December 2013. The law allowed for a 0.5% average increase in Medicare payment rates and extended the 2% sequestration cut for all health care providers for another 2 years. Access to this tool requires login via My.LeadingAge.
Sims Mortgage Funding, Inc. used the Lean program to refinance 2 health care facilities located in Orange County, New York. Elant at Goshen is a 236-bed skilled nursing, assisted living and adult day care facility that was constructed in 1985 and expanded in 1995. Elant at Meadow Hill is a 192-bed skilled nursing facility built in 1973 and expanded in the 1980s.