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CMS issues FY 2014 payment update for inpatient psychiatric facilities

July 30, 2013

The Centers for Medicare & Medicaid Services yesterday issued a notice increasing prospective payment rates for hospital-based and freestanding Medicare inpatient psychiatric facilities by an average 2.3% ($115 million overall) for fiscal year 2014, beginning Oct. 1. The increase reflects a 2.6% market basket update minus a 0.5 percentage point productivity reduction and a 0.1 percentage point reduction required by law, plus a 0.3 percentage point increase in the expected proportion of outlier payments, among other adjustments.