Hospital payment boost
This article was originally published in The Gray Sheet
Executive Summary
Hospitals should receive a full market basket update - estimated at 3.1% - for both inpatient and outpatient Medicare payments in 2008, the Medicare Payment Advisory Commission unanimously recommends Jan. 9. The full update, which MedPAC says should be implemented concurrent with quality incentive payment initiatives, represents an increase over the commission's thinking in December, when it considered an update of about 2.45% -- a full update minus half of the expected 1.3% productivity increase. The last time MedPAC recommended a full market basket update for hospitals was in 2004 (1"The Gray Sheet" March 6, 2006, p. 6). The recommendation will appear in the commission's March report to Congress....[Editor's Note: The original version of this brief incorrectly stated that the Medicare Payment Advisory Commission considered in December recommending a 0.65% payment increase for hospitals. MedPAC actually considered an update of about 2.45%
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