CMS has issued a prospective payment update that will increase Medicare reimbursements for inpatient psychiatric facilities by approximately 2.3 percent in fiscal year 2014.
The update factors in a 2.6 percent market basket increase reduced by 0.1 percentage points under the Social Security Act. The pay increase also takes into account a 0.5 percentage point reduction for economy-wide productivity, also required under the Social Security Act.
The payment increase applies to both hospital-based and freestanding inpatient psychiatric facilities.
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