August 3, 2022 – Last week, CMS issued a final rule that updates Medicare payment rates for hospice providers.
The FY 2023 hospice payment update percentage is 3.8% (an estimated increase of $825 million in payments from FY 2022). This is a result of the 4.1% market basket percentage increase reduced by a 0.3 percentage point productivity adjustment, CMS said in a release.
Hospices that fail to meet quality reporting requirements receive a 2% point reduction to the annual hospice payment update percentage increase for the year.