SNFs should use looming funding threats to take the long view
Skilled nursing facilities are facing a barrage of challenges to their business. Falling occupancy rates, wage pressures, and growing competition are all putting the industry under strain.
Now comes a new challenge. Which, viewed through the right lens, could also be an opportunity.
Providers are bracing for the biggest overhaul to their reimbursement funding in two decades. The new Medicare Patient-Driven Payment Model (PDPM), which takes effect on October 1, presents a major change to the industry’s Medicare revenue model, removing therapy minutes as a determinant of payment and instead tying funding more closely to clinical factors.