Hospice Alert: FY 2024 Wage Index Changes — Action Required by October 1, 2023
Significant changes to hospice reimbursement rates effective October 1, 2023.
Action required by
October 1, 2023
Review the Action Required section below and ensure your team has completed all compliance steps before this date.
The Federal Register Final Rule for the Medicare Program regarding the FY 2024 Hospice Wage Index and Payment Rate Update introduces significant changes to reimbursement rates and guidelines for hospice providers, effective October 1, 2023.
What Changed The updated wage index reflects adjustments based on geographic variations in labor costs, potentially increasing payment rates for some hospice providers. Enhanced transparency in reporting quality measures is emphasized, which is critical for maintaining compliance and optimizing reimbursement. While specific CPT, HCPCS, or ICD-10 codes affected by these changes are not detailed, clinical coders must refer to the source document for precise coding updates.
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Quick answers
What are the new hospice payment rates?
The updated payment rates vary based on geographic labor cost adjustments; refer to the source document for specifics.
What documentation is required for hospice eligibility?
Providers must document clinical assessments and physician certifications supporting a prognosis of six months or less.
How will quality reporting measures affect reimbursement?
Failure to adhere to new quality reporting measures may impact reimbursement rates.
Content summarized from publicly available federal publications including CMS, MAC contractors, and the Federal Register. CLV Intelligence is not affiliated with or endorsed by any government agency. This is not legal or medical advice.