CMS releases FY 2024 final rule for inpatient psychiatric facilities

The Centers for Medicare & Medicaid Services today released its fiscal year 2024 final rule for the inpatient psychiatric facility prospective payment system, which updates the IPF payment rate by a net 2.4% in FY 2024. The rule rebases and revises the IPF PPS market basket using FY 2021 data; adopts four new quality measures; and allows IPFs to open a new unit at any time during the cost reporting period, among other changes.