The U.S. Centers for Medicare & Medicaid Services has updated Medicare hospice payment rates effective October 1, 2023. Although not consistent with Medicare payment rates, the rates are calculated based on established Medicare rates.
Rates, subject to geographical adjustment, are as follows:
Routine home care (days 1-60) $ 218.61/day
Routine home care (days 61+) $ 172.57/day
Continuous home care (hourly) $ 65.25/hour
Inpatient respite care $ 534.43/day
General inpatient care $ 1,145.31/day
Details are available here.
YEAR-END VENDOR PROCESSES
As 2024 approaches, hospices should take the following steps to update and validate vendor files:
- Request an updated Form W-9 for all active vendors – The IRS requires all businesses, including hospices, to issue Form 1099 to certain companies and individuals. Annually, all vendors should be requested to provide a Form W-9 to the hospice. The completed W-9 allows the hospice to appropriately determine those vendors who need to receive a Form 1099 at the end of the year. If the hospice does not receive a Form W-9 or is unable to determine whether the vendor is subject to information reporting (Form 1099), the hospice may be required to withhold 24% of vendor payments and pay the IRS directly on behalf of the vendor.
- Compare vendors to the Medicare Exclusions Database – Hospice, like other healthcare providers, cannot employ sanctioned or excluded individuals or vendors. The OIG maintains a list of all currently excluded individuals and entities called the “List of Excluded Individuals/Entities (“LEIE”). The list is available here.
As hospice integrity measures take center stage for hospice providers, all hospices should be reviewing all corporate compliance policies and procedures including those related to financial activities and financial reporting. All such efforts should be documented and retained by the hospice.
FEW SPOTS REMAIN FOR THE HOSPICE FINANCIAL MANAGEMENT AND ADMINISTRATION CONFERENCE
The Health Group, LLC’s 2023 Hospice Financial Management and Administration Conference is rapidly filling up (attendance limited). The program will be held at the beautiful Lago Mar Beach Resort, Fort Lauderdale, Florida on November 9-10, 2023. Program information, including registration information, is available here. The program provides for a special session on the financial implications of the many hospice integrity initiatives, both implemented and proposed. The final Home Health and Physician Payment Rules are expected to be finalized before the conference. These include many provisions impacting hospices and hospice financial management.
We are encouraging anyone who expects to attend to make room reservations at their earliest opportunity. Many individuals planning on attending the program have already reserved their rooms. The Lago Mar Beach Resort will sell out for the days of our conference. Special rates have been secured with the Lago Mar Beach Resort & Club; however, to secure these rates, call (855) 829-2923 and inform the hotel that you are attending “The Health Group, LLC Hospice Financial Administration Conference” or online at www.lagomar.com.
When making reservations online, go to reservations, click on group code, and enter 2311THEHEA. Select the dates you will be staying, even if the dates are indicated as not available, select them and your room type. All attendees are being offered Executive One Bedroom Suites at $235/night. Resort fees have been waived for our attendees. If you have a problem, please call the hotel. The hotel is making the $235/night available for two (2) days prior and two (2) days after the program dates.