Nursing home providers won a major victory on Friday, July 29 with CMS announcing a finalized 2.7% increase to nursing home Medicare pay rates for fiscal 2023. The increase will be phased-in over two years, mitigating the negative impacts of COVID-19 on the industry.

In addition to the rate increase, CMS also announced it “recognizes that the ongoing COVID-19 PHE provides a basis for taking a more cautious approach to mitigate the potential negative impacts on the nursing home industry, such as facility closures or disproportionate impacts on rural and smaller facilities.”

"We are pleased that CMS has made these changes," said John Ryan, president, and CEO of the American Health Care Association/National Center for Assisted Living (AHCA/NCAL). "This allows us to continue providing high-quality care for our patients and families.

About BASE10 Genetics
Located in Chicago, BASE10 is a healthcare software technology company whose platform creates turnkey disease management programs that can be deployed at scale for nursing home operators, pharmacies, payors, and self-funded employers.