![]() ![]() The index used to do this is known as the IPPS Hospital Market Basket. The law requires CMS to update payment rates for IPPS hospitals annually and to account for changes in the prices of goods and services used by these hospitals in treating Medicare patients, as well as for other factors. The classification systems are: IPPS: Medicare Severity Diagnosis-Related Groups (MS-DRGs) and LTCH PPS: Medicare Severity Long-Term Care Diagnosis-Related Groups (MS-LTC-DRGs). Subject to certain adjustments, a hospital receives a single payment for each case depending on the payment classification assigned at discharge. Under these two payment systems, CMS sets base payment rates prospectively for inpatient stays generally based on the patient’s diagnosis, the services or treatment provided, and the severity of illness. This fact sheet discusses major provisions of the final rule, which can be downloaded from the Federal Register at: Background on the IPPS and LTCH PPSĬMS pays acute care hospitals (with a few exceptions specified in the law) for inpatient stays under the IPPS. This rule also finalizes the proposals presented in CMS-1788-P, which address the treatment of S ection 1115 demonstration days in the calculation of Medicare disproportionate share hospital (DSH) payments. ![]() ![]() In this final rule, CMS is also finalizing policies to promote health equity and patient safety. CMS is publishing this final rule to meet the legal requirements to update Medicare payment policies for IPPS hospitals and LTCHs on an annual basis. ![]() The final rule updates Medicare fee-for-service payment rates and policies for inpatient hospitals and LTCHs for FY 2024. On August 1, 2023, the Centers for Medicare & Medicaid Services (CMS) issued the fiscal year (FY) 2024 Medicare hospital inpatient prospective payment system (IPPS) and long-term care hospital prospective payment system (LTCH PPS) final rule. ![]()
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