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All posts tagged with “Hospice Provider News | Operations News | Financial.”
OBI says proposed bill would improve quality of life for at-home hospice patients
02/19/24 at 03:00 AMOBI says proposed bill would improve quality of life for at-home hospice patientsNews on 6; 2/16/24Our Blood Institute is bringing awareness to an Oklahoma Senate Bill it says would improve the quality of life for at-home hospice patients. The OBI said Senate Bill 2186 would make access to blood transfusions easier for end-of-life patients who receive care at home.
CMS issues additional guidance on program to allow people with Medicare to pay out-of-pocket prescription drug costs in monthly payments
02/19/24 at 02:30 AMCMS issues additional guidance on program to allow people with Medicare to pay out-of-pocket prescription drug costs in monthly paymentsCMS.gov; 2/15/24The Inflation Reduction Act’s Medicare Prescription Payment Plan will allow people to pay Medicare Part D out-of-pocket costs over the course of the year starting in 2025. [On February 15th,] the Centers for Medicare & Medicaid Services (CMS) released the second part of draft guidance for the Medicare Prescription Payment Plan that outlines requirements for Medicare Part D plan sponsors, including outreach and education requirements, pharmacy processes, and operational considerations, for the program’s first year, 2025.
Concurrent Medicare hospice & curative care improves quality & reduces costs 13%
02/09/24 at 03:00 AMConcurrent Medicare hospice & curative care improves quality & reduces costs 13%Open Minds; 2/7/24Medicare beneficiaries with terminal health conditions who participated in the Medicare Care Choices Model (MCCM), received high quality care at a 13% lower cost compared to similar beneficiaries who did not receive the MCCM services. The Centers for Medicare & Medicaid Services (CMS) tested this new model as an option for Medicare beneficiaries to receive supportive care services while continuing to receive services for their terminal condition.
Medicare Advantage profitability on the decline, Moody's finds
02/06/24 at 04:00 AMMedicare Advantage profitability on the decline, Moody's findsHealthcare Finance, by Jeff Lagasse; 2/2/24A significant spike in utilization is putting cost pressure on insureres, which will likely affect earnings. While Medicare Advantage remains attractive to the healthcare industry due to strong growth, high revenue and earnings per member, profitability is on the decline, according to a new analysis by Moody's Investor Service.
The no. 1 problem still keeping hospital CEOs up at night
02/05/24 at 04:00 AMThe No. 1 problem still keeping hospital CEOs up at nightBecker's Hospital Review, by Kelly Gooch; 1/31/24... Here are the 10 most concerning issues hospital CEOs ranked in 2023, along with their average score on an 11-point scale of how pressing CEOs find each issue.
Lee County belt tightening means a reduction in hospice care
02/05/24 at 04:00 AMLee County belt tightening means a reduction in hospice careWIUM Trstates Public Radio, by Will Buss; 2/1/24Lee County Supervisors are looking for ways to reduce spending. As a result, the health department is scaling back the level of hospice care it provides terminally ill residents. Administrator Michele Ross said the department has pushed to retain hospice service but will refer more residents to private providers.
What home health providers need to know about CMS’ Medicare enrollment changes
02/05/24 at 03:00 AMWhat home health providers need to know about CMS’ Medicare enrollment changesHome Health Care News, by Patrick Filbin; 1/31/24The Medicare enrollment process undergoes annual changes at the Centers for Medicare & Medicaid Services (CMS) to ensure it remains up to date with evolving regulations, policies and health care practices. A number of changes went into effect on Jan. 1, and several of them will affect home health agencies. Here’s what home health agencies should know about those changes.
How hospices are diversifying their services in 2024
02/05/24 at 12:30 AMHow hospices are diversifying their services in 2024Hospice News, by Holly Vossel; 1/31/24Palliative care, pediatric end-of-life care and end-of-life doula (EOLD) services are top of mind for hospices that are diversifying their services in 2024.Fewer than half of 143 respondents to Hospice News’ 2024 Outlook Survey, conducted with Homecare Homebase, reported that their hospice organizations would pursue new care types this year. But the aim of their service diversification efforts may indicate future trends. Service diversification trends in hospice could ramp up as value-based care models incentivize this path, according to Tony Kudner, chief strategy officer of the home-based care consulting company Transcend Strategy Group.
Hospices struggle to balance costs, patient needs in medication deprescribing
02/02/24 at 04:00 AMHospices struggle to balance costs, patient needs in medication deprescribingHospice News, by Jim Parker; 1/30/24When deprescribing medications for hospice patients, providers have to navigate a complex web of factors. But according to some clinicians, the prospect of cost savings often takes precedence over clinical outcomes. Medication costs are among hospices’ biggest expenses, and deprescribing some medications deemed “curative” or “unrelated” to the patient’s terminal diagnosis is a standard practice. However, even in the context of providing comfort care at the end of life, many patients do not receive medications that could benefit them, including those for pain management.
As denials climb, MACPAC approves recommendations for managed care oversight
01/30/24 at 03:00 AMAs denials climb, MACPAC approves recommendations for managed care oversight McKnights Home Care, by Adam Healy; 1/29/24The Medicaid and CHIP Payment Advisory Commission on Friday approved seven recommendations to enhance congressional oversight of Medicaid managed care organizations as recent reports reveal startlingly high rates of prior authorization denials.
Changing payment dynamics are forcing home-based care providers to level up in value-based care
01/29/24 at 04:00 AMChanging payment dynamics are forcing home-based care providers to level up in value-based careHome Health Care News, by Patrick Filbin; 1/24/24When home-based care professionals were tasked with providing the “greatest challenge” facing them in the new year, 58% responded staffing. After that, 31% said changing payment dynamics, while 7% and 4% said consolidation or non-payment regulatory changes, respectively. Those findings come from a recent survey conducted by Home Health Care News and Homecare Homebase.
Home health benefit will become a 'skeleton' if Medicare payment adjustments continue, industry leader cautions
01/26/24 at 04:00 AMHome health benefit will become a 'skeleton' if Medicare payment adjustments continue, industry leader cautionsHome Health Care News, by Joyce Famakinwa; 1/23/24... The 2024 final home health payment rule included a 0.8% aggregate payment increase and a permanent prospective adjustment of -2.890%, plus dozens of other notable changes to home health care. ... With these cuts, NAHC [National Association for Home Care & Hospice] has estimated that 48% of all home health agencies will have overall negative margins in 2024.
Historic 21.3 million people choose ACA Marketplace coverage
01/25/24 at 04:00 AMHistoric 21.3 million people choose ACA Marketplace coverageCMS.gov Press Release; 1/24/24Marketplace enrollment climbs nearly 5 million higher than previous year. ... Total plan selections include more than five million people — about a fourth — who are new to the Marketplaces and 16 million people who renewed their coverage. Notably, open enrollment continues in four states and Washington, D.C., through January 31.
New program to provide emergency funding to rural hospitals
01/25/24 at 04:00 AMNew program to provide emergency funding to rural hospitalsCapitol Beat, by Dave Williams; 1/17/24A nonprofit health-care organization announced plans ... to help financially struggling rural hospitals in Georgia in danger of closing. Ohio-based CareSource will contribute $5 million in emergency funding to hospitals and hospital-owned nursing homes in rural communities suffering critical cash deficits. Working in partnership with Cumming-based HomeTown Health, which represents rural hospitals across Georgia, the CareSource Rural Access Advancement Program will provide bridge loans to be repaid and reinvested into the program once the recipient has stabilized. Since 2010, nine rural hospitals have closed in Georgia, third-most in the nation.
46% of C-Suite execs prioritizing cost reduction, survey says
01/25/24 at 03:05 AM46% of C-Suite execs prioritizing cost reduction, survey saysBecker's Hospital CFO Report, by Madeline Ashley; 1/23/24"The New Healthcare C-Suite Agenda: 2024-2025" report surveyed more than 100 C-suite executives and focused on topics like digital tools, EMR optimization, patient publication, operations, and more. Of the respondents, 29% held a CEO title, 13% chief medical officer, 10% CFO, 10% CIO, 10% COO, 7% chief nursing officer, 6% chief quality officer, 3% chief strategy officer, and 2% chief digital innovation officer. ... For top strategic initiatives for executives, 57% said growing revenue, 55% said staff recruitment and retention, and 46% said reducing cost.
MD Anderson’s Dr. Eduardo Bruera: Educate hospital execs on palliative care’s outcomes, cost savings
01/24/24 at 04:00 AMMD Anderson's Dr. Eduardo Bruera: Educate hospice execs on palliative care's outcomes, cost savingsHospice News, by Audrie Martin; 1/22/24Dr. Eduardo Bruera is a true pioneer in the field of palliative care. ... In this interview, Palliative Care News sits down with Bruera to discuss the landscape of palliative care and what he sees for the future of the field.
A guide to paying for hospice care at home
01/24/24 at 04:00 AMA guide to paying for hospice care at homeMediaFeed.org, by Claire Samuels; 1/23/24 According to the Centers for Medicare & Medicaid Services, which sets benchmarks for hospice care costs based on the payments they make to providers, here’s what two types of in-home hospice care will cost in 2024’s fiscal year ... [Additional descriptions include insurance, Medicare, Medicaid, VA health care, private health insurance.]
StateServ announces acquisition of Delta Care Rx
01/23/24 at 03:00 AMStateServ announces acquisition of Delta Care RxPR Newswire; 1/22/2024StateServ, a leading provider of durable medical equipment ("DME") benefit management solutions to the post-acute care market in the United States, has completed its acquisition of Delta Care Rx ("Delta Care"), a national pharmaceutical care provider. Delta Care offers integrated pharmacy benefit management, mail order prescription, sterile/non-sterile compounding, and clinical pharmacist consulting to the hospice and palliative care markets. ... The unique combination forms a leading care-at-home data, technology, and service platform and the industry's first scaled DME and pharmacy solution.
$15 billion win for physicians on prior authorization
01/22/24 at 04:00 AM$15 billion win for physicians on prior authorizationAMA, by Kevin B. O'Reilly; 1/18/24Under the leadership of Administrator Chiquita Brooks-LaSure, the Centers for Medicare & Medicaid Services (CMS) has released a final rule making important reforms to prior authorization to cut patient care delays and electronically streamline the process for physicians. Together, the changes will save physician practices an estimated $15 billion over 10 years, according to the U.S. Department of Health and Human Services (HHS).
New dementia-focused payment model emphasizes caregiver support
01/22/24 at 04:00 AMNew dementia-focused payment model emphasizes caregiver supportHospice News, by Holly Vossel; 1/18/23Without family caregivers, most hospice and palliative care patients would be unable to receive care in the home. Now, some emerging payment models are including caregiver support as a key component.
Congressional advisors grapple with Medicare Advantage data that reveals plenty on excess, but not much on access
01/19/24 at 04:00 AMCongressional advisors grapple with Medicare Advantage data that reveals plenty on excess, but not much on accessMcKnight's Long-Term Care News, by Kimberly Marselas; 1/16/24Medicare Advantage risk scores continue to rise, inflating payments to the private plans that far exceed their actual costs, staff for a Congressional advisory commission warned members Friday. The Centers for Medicare & Medicaid Services uses risk scores, based on patient demographics and their needs, to establish payments to plans during each bid season.
Have you been overcharged for prescription drugs? We want to hear from you.
01/11/24 at 03:00 AMHave you been overcharged for prescription drugs? We want to hear from you. - The New York TimesThe New York Times, by Reed Abelson and Rebecca Robbins; 1/9/24Most prescriptions in the United States are handled by one of three companies: CVS Caremark, Express Scripts or Optum Rx. These pharmacy benefit managers serve as middlemen between the drug companies that make the medications and the insurance plans that pay for your prescriptions. These relationships have been in the news because of the high cost of prescription drugs. We want to hear about your experiences with these companies, including whether your medications were covered and how much you paid for them. We’re also interested in hearing from pharmacists and doctors about their experiences and those of their patients.
Humana wins $360M in Walgreens drug price settlement
01/10/24 at 04:00 AMHumana wins $360M in Walgreens drug price settlementModern Healthcare, by Lauren Berryman; 1/8/24Walgreens will pay Humana $360 million to resolve allegations the pharmacy chain overcharged the health insurer for prescription drugs.
2024 Hospice News outlook survey and report
01/10/24 at 02:00 AM2024 Hospice News outlook survey and reportHospice News; 1/9/24From rising industry challenges to the latest technology investments, participants of this year’s Hospice Outlook Survey shared their take on the industry’s obstacles and growth opportunities in the year ahead. Hospice News is pleased to share these survey results, revealing how providers are:
Grief counselling market size to grow USD 4.52 billion by 2029 at a CAGR of 7.8% | Valuates Reports
01/09/24 at 03:10 AMGrief counseling