FY 2024 Skilled Nursing Facilities PPS Final Rule Summary

On August 7, 2023, CMS published in the Federal Register (88 FR 53200) a final rule updating the fiscal year (FY) 2024 Medicare skilled nursing facility (SNF) payment rates, SNF Quality Reporting Program (QRP) and the SNF Value-Based Purchasing Program (VBP). The final rule updates the federal per diem rates under the SNF Prospective Payment System; the ICD-10 code mappings for patient classification; and the SNF QRP and SNF VBP Programs. CMS also finalizes revisions in the procedures for facilities facing civil monetary penalties to actively waive their right to a hearing in order to receive a penalty reduction. CMS is implementing the second phase of the 2-year phase-in period for the Patient Driven Payment Model parity adjustment, resulting in a reduction of 2.3 percent, or approximately $789 million, in FY 2024.