Precision Medical Billing understands that knowledge is power in the ever-evolving healthcare landscape. At the recent Fall Conference organized by the Texas Association for Home Care & Hospice, we gained in-depth insights into the 2024 Proposed Rule for Home Health and Hospice that we are eager to share with our partners.
Comprehensive Financial Shifts
In 2024, home health agencies face a multifaceted financial scenario:
- A payment increase of 2.7% will be counterbalanced by a permanent adjustment reduction of 5.653%.
- Outlier payments will be marginally adjusted with a 0.2% increase.
- Cumulatively, these adjustments signal a 2.2% net decrease in Medicare payments.
Navigating Adjustments and Rebasing
The recalibration of permanent and temporary adjustments presents a formidable challenge. The recalculated permanent adjustment for CY 2020-2022 is a stark -9.36%, and for CY 2024, a reduction of 5.653% will be applied to 30-day average base payments. Such changes underscore the importance of PMB’s role in ensuring that financial recalibrations are navigated successfully.
PMB’s Proactive Advocacy
Our history of advocacy is reflected in our response to the Proposed Rule:
- PMB, alongside TAHC&H, has articulated the impact of these adjustments to the Texas Delegation.
- We’ve provided templates for member comments and have actively participated in discussions on Capitol Hill.
The Undeniable Importance of Home Health
Senatorial voices at the conference, such as Sen. Ron Wyden and Sen. Steve Daines, echoed our belief in the indispensability of home health services. The message was clear: as Congress deliberates the future of home health, thoughtful consideration is essential to ensure that seniors receive the care they deserve, at the right time and place.
Adjustments in Value-Based Purchasing (VBP)
The 2024 Proposed Rule suggests significant changes to the Home Health Value-Based Purchasing Model:
- A second change in the baseline year for HHVBP is proposed, with CY 2023 potentially becoming the new reference point.
- The rule also proposes a realignment of VBP measures, removing five existing ones and introducing three new measures, which could have profound implications for performance metrics and payment adjustments.
Upholding Program Integrity
With PMB as your guide, navigating the new rules around program integrity will be straightforward. Changes such as the reduction of Medicare deactivation period and expansions in the definition of managing employees for hospices are critical areas where PMB’s expertise will be invaluable.
As we move forward, PMB reaffirms its commitment to precision, integrity, and partnership with healthcare providers. We will continue to dissect these changes, ensuring our clients are not just prepared but are also thriving in this new regulatory environment.
Together with PMB, shape the future of healthcare billing — accurate, reliable, and proactive.