Inpatient psychiatric facility payments are estimated to increase by 1.9%, or $55 million, in 2024 relative to 2023, in the Inpatient Psychiatric Facility Prospective Payment System proposed rule released by the Centers for Medicare and Medicaid Services on Tuesday. For 2024, CMS is proposing to update the payment rates by 3%, based on the proposed 2021-based Inpatient
The Centers for Medicare and Medicaid Services on Wednesday released the parameters for the first year of prescription drug negotiations to lower prices in Medicare. The negotiations will affect only Medicare Part D for the first two years, for ten drugs during the first year and 15 in the second year, CMS said. After that, Part B gets included. The first year the negotiated
Drug companies that raise prescription drug prices faster than the rate of inflation will pay rebates to the federal government or face fines. The Centers for Medicare and Medicaid Services on Thursday released the initial guidance on the Medicare Prescription Drug Inflation Rebate Program. Drug companies will be required to pay rebates to the Medicare Trust Fund for raising
Medicare Advantage plans are expected to receive a 1.03% increase in revenue under the 2024 Advance Notice for the Medicare Advantage and Part D Prescription Drug Programs released by the Centers for Medicare and Medicaid Services on Wednesday. CMS is proposing technical updates to the MA risk adjustment model by fully transitioning to the Internal Classification of Diseases