With the threat of mandated staffing ratios looming over some long-term care facilities, the Biden administration on Tuesday said it will bump up Medicare payments to skilled nursing providers next year. With the threat of mandated staffing ratios looming over some long-term care facilities, the Biden administration on Tuesday said it will bump up Medicare payments to skilled nursing providers next year. Why it matters: Nursing homes are dealing with acute staffing shortages and operating with financial losses, and concerns about how CMS finalizes staffing regulations this spring have the industry on edge. By the numbers: Skilled nursing facilities will receive an increase of $1.2 billion in fiscal year 2024 Medicare Part A payments, a 3.7% increase in payment.
Gove County Medical Center announced the closing of their Long Term Care Unit. The medical center informed the public of the closing on its Facebook page on Monday. The center said, “Unfortunately, due to the current industry environment across our state and country, we are seeing facilities just like ours, close. The current trend of operating this important health care function has led us to the point where it is no longer sustainable.”
New government projections estimate significant increases in both overall and out-of-pocket costs for home care, nursing facilities, and continuing care communities (CCRCs) through this decade. The projected steep rise in costs will lead to tough decisions for both consumers and government. The latest annual projections, by analysts at the federal Centers for Medicare and Medicaid Services (CMS) forecast overall health cost increases will moderate through the decade as the affects of the Covid-19 pandemic wane. However, the costs of long-term supports and services as well as post-acute care such as physical therapy are expected to rise more steeply than in most recent years. Costs of these services will also grow at a faster rate than health care overall.
New York faces a legal challenge over a new law that requires nursing homes to designate a majority of their funds to care and services for residents amid claims the mandate will be "devastating" to the senior care industry.
If proposed legislation passes in the Ohio House of Representatives and Ohio Senate, and is signed by the governor, at-home caregivers could see higher pay as early as this fall.
The Alzheimer's Association released its 2023 Facts and Figures report which says an estimated 1.2 million additional direct care workers will be needed across the country between 2020 and 2030, more new workers than in any other single occupation in the United States.