Following the Centers for Medicare & Medicaid Services (CMS) release of the Fiscal Year 2024 Hospice Payment Rate Update Final Rule (CMS-1787-F) on July 28, LeadingAge president and CEO Katie Smith Sloan stated that, “while we appreciate the payment increase to 3.1% a more generous market basket update was badly needed for nonprofit, mission-driven hospice providers committed to continuing to provide quality care in their communities.”

CMS finalized a market basket increase of 3.1%, which is slightly higher than the 2.8% that was in the proposed rule. The final per diem rates are in the table below. LeadingAge will review the rule and report out additional items of interest to members soon.