Regional Pricing
What does Medicaid regional pricing mean to the nursing home industry and more specific to your facility? This article explores the ramifications of the new proposed regional pricing system by reviewing how a similar change to Medicare (PPS) reimbursement in 1999 impacted the industry. Because not all nursing facilities will be affected equally by the changes, we review which facilities are likely to lose the most and why.
Due to New York State budget cuts, the nursing home industry is likely to lose statewide funding proposed at $244 million this year. Under the newly proposed system of prospective regional reimbursement, the state will allocate funds to nursing homes differently than ever before.
Will your Medicaid rate change dramatically going from a retroactive cost base system driven by your own spending patterns to a predetermined prospective regional payment price? Many health care visionaries predict that spending cuts must be made today to prepare for pricing reductions tomorrow? Are you prepared? This essay has been prepared to help nursing facilities formulate a plan for survival.
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