DME Optimization In 2024: CMS Hospice Payment Update

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DME Optimization in 2024 CMS Hospice Payment
Update


















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CMS Hospice Payment Updates in 2024

• Hospice providers often face challenges related
  to reimbursement rates, regulatory changes, and
  compliance issues. In 2024, it is crucial to stay
  informed about any updates from CMS that may
  impact hospice payments. Industry concerns may
  include changes in reimbursement methods,
  adjustments in payment rates, and compliance with
  changing regulations. Staying proactive and
  engaging with industry standards can help hospice
  providers navigate these challenges and ensure
  financial stability while delivering high-quality
  patient care. Lets have a deep dive into the
  updates, concerns, and the way to address them

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CMS Hospice Payment Updates in 2024

• In 2024, the U.S. Centers for Medicare Medicaid
  Services (CMS) is providing a 3.1 increase in
  per diem payments for hospices. This marks a
  modest climb from the initially proposed 2.8
  payment boost for 2024, announced in March. The
  finalized rule, published recently, includes
  several key details
• Payment Increase
• Aggregate Payment Cap
• Quality and Compliance Updates
• Telehealth Regulations

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Addressing Cost Optimization through DME
Management

• In response to concerns about insufficient
  payment increases, hospices are exploring cost
  optimization strategies, specifically focusing on
  DME management. The efficient management of
  durable medical equipment (DME) is critical to
  address rising operational costs. Here are key
  areas to consider
• Streamlined DME Ordering
• Reduced Administrative Burden
• Optimized Non-Formulary Management
• Competitive Pricing Contract Negotiation
• Optimizing Equipment Selection
• Staff Training and Education

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Conclusion

• While the CMS 2024 hospice payment update
  provides some financial relief, industry concerns
  persist about addressing mounting operating
  costs. Effective cost optimization through DME
  management becomes imperative to mitigate
  financial burdens and uphold the delivery of
  high-quality care to patients in need. To learn
  more about potential time and cost savings,
  hospices are encouraged to get free consultations
  from the outsourcing company such as 24/7 Medical
  Billing Services.

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About us

• We are a medical billing company that offers
  24/7 Medical Billing Services and support
  physicians, hospitals, medical institutions and
  group practices with our end to end medical
  billing solutions. We help you earn more revenue
  with our quick and affordable services. Our
  customized Revenue Cycle Management (RCM)
  solutions allow physicians to attract additional
  revenue and reduce administrative burden or
  losses.
• Media Contact
• 24/7 Medical Billing Services
• 28405 Osborn Road, Cleveland, OH 44140
• Phone no / Fax [phone]
• Email us info_at_247medicalbillingservices.
  com

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