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All posts tagged with “Hospice Provider News | Operations News | Financial.”
Forced to work in a vacuum, MedPAC recommends another Medicare cut
12/12/23 at 03:10 AMForced to work in a vacuum, MedPAC recommends another Medicare cutMcKnight’s Long Term Care NewsDecember 11, 2023A Congressional advisory group appears ready to recommend a 3% Medicare pay cut for nursing homes in 2025. In what has become an annual tradition, members of the Medicare Payment Advisory Commission voiced ongoing concerns Friday about the use of Medicare Fee for Service reimbursement to effectively subsidize Medicaid rates and Medicare Advantage payments. With official data indicating that patients still have plenty of access to care, panel staff recommended MedPAC tell Congress that it should pursue a cut to Chair Michael Chernew, PhD, a healthcare policy professor at Harvard, said the 3% cut could be steeper given the reported margins. But the commission—tasked only with considering Medicare policy—remains cognizant of the pressures faced by providers accepting Medicaid and being increasingly low balled by managed care plans.
New Mexico’s Medicaid Rate Hike Bodes Well For Addus, Other Home-Based Care Providers
12/09/23 at 04:00 AMNew Mexico’s Medicaid Rate Hike Bodes Well For Addus, Other Home-Based Care ProvidersHome Health Care NewsDecember 7, 2023New Mexico is increasing its reimbursement rates for providers that bill Medicaid in the state. Overall, providers are set to get an additional $409 million in reimbursement. The increases will start taking shape on claims made on or after July 1, 2023. Another rate hike is expected in the future for CY 2025. “Thanks to this substantial funding boost, Medicaid providers across New Mexico will now receive reimbursements at rates as high as 120% of Medicare,” Lorelei Kellogg, the acting director for the New Mexico Medicaid program, said in a press release. “By elevating rates, New Mexico Medicaid continues to work toward the goal of ensuring that all New Mexicans enrolled in the program have access to vital health care services.”
Here’s why you can’t die peacefully in Oklahoma.
12/08/23 at 04:00 AMHere’s why you can’t die peacefully in Oklahoma.By Abby RemmingThe OklahomanDecember 6, 2023... Having Medicare or a Medicare Advantage plan would cover hospice, but many people have private insurance from work or state Medicaid plans. Private insurance and Medicaid Advantage plans at times can have a hospice benefit but limit which companies can be used. Applying for Medicare will ensure you are covered for hospice. ... I currently work as a hospital social worker and assist many people who need hospice. Many times, I have had to share with patients and their families that, while they may be ready to peacefully pass away, hospice coverage is not included in the patient’s current insurance plan. Providing end-of-life care is extremely difficult without the added burden of worrying whether insurance will cover the benefit. Those without the benefit and who need the service are then reliant upon the generosity of the companies to absorb the cost. If the Medicaid Advantage plan is picked, a person would need to decide if they wanted the benefit to either cover nursing home care or in-home hospice care. A Medicaid Advantage plan might not cover hospice even when the policyholder believes they have the benefit.
The Medicare Gold Rush Is Slowing Down
12/08/23 at 03:19 AMThe Medicare Gold Rush Is Slowing DownWall Street JournalDecember 6, 2023The popularity of private Medicare plans has been a huge driver of profits for insurance companies in recent years. There are signs the gold rush isn’t quite what it once was. ... The most immediate red flag came from the industry leader, UnitedHealth. During an investor day last week, it predicted its Medicare Advantage enrollment would grow by 450,000 to 550,000 seniors in 2024. That translates to around 5% growth next year, a significant slowdown from the 11% it grew so far this year, according to TD Cowen analyst Gary Taylor. As UnitedHealth executives were presenting in New York, The Wall Street Journal reported that the second-largest Medicare plan provider, Humana, was in merger talks with Cigna. While Cigna’s interest in Humana surely attests to insurers’ continued desire to expand into the Medicare market, some investors took it as a sign that Humana isn’t so sure about the strength of the business going forward.
Hospice Clinician Wages Rising at Slower Rate; Turnover Falling
12/03/23 at 04:00 AMHospice Clinician Wages Rising at Slower Rate; Turnover FallingHospice NewsDecember 1, 2023Wages for hospice clinicians continue to go up amid widespread staff shortages, but they grew at a slower rate in 2023 compared to the prior year. The national average hourly rate for Hospice registered nurses rose 4.58% in 2023, down from a 5.95% increase in 2022, according to a new report by the Hospital & Healthcare Compensation Service in cooperation with the National Association for Home Care & Hospice. Meanwhile, turnover rates declined in 2023, representing the first drop in several years, the report indicated.