CMS Extends Some Deadlines for Bundled Payments for Care Improvement Initiative
CMS’ Center for Medicare & Medicaid Innovation (CMMI) announced today that it is extending the deadline for Model 1 of the Bundled Payments for Care Improvement initiative. The new deadline to submit a Model 1 Letter of Intent is October 6, 2011, and the deadline to submit the Model 1 application is now November 18, 2011.
In Model 1 the episode of care is the inpatient stay in a general acute care hospital. Medicare will pay the hospital a discounted amount based on the Inpatient Prospective Payment System rates, and pay physicians a separate discounted amount based on the Physician Fee Schedule. If the total payments for the episode of care fall below the target price that was set by appling a discount to what would have been expected based upon historical data, the participating hospital and physicians can share in the savings.
To review the CMMI notice, click here.
If you would like further information on the Bundled Payments for Care Improvement initiative, please contact your regular Miller Health Law Group attorney.