FY 2024 IPF Payment System Update: Key Rate Changes Effective October 1
What Changed
Action required by
October 1, 2023
Review the Action Required section below and ensure your team has completed all compliance steps before this date.
What Changed
The Inpatient Psychiatric Facilities Prospective Payment System (IPF PPS) has undergone significant updates, effective October 1, 2023, as outlined in the Federal Register Final Rule (Policy ID: FR-2023-16083). These updates include an increase in payment rates for inpatient psychiatric services, reflecting adjustments based on the revised market basket and other economic factors affecting the cost of care in psychiatric settings. This change aims to enhance reimbursement for facilities providing these essential services.
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