How LTC Can Save $616M in 2020 - SpecialtyRx
December 25, 2019
How LTC Can Save $616M in 2020

CMS is finally taking steps to liſt burdensome LTC requirements

Here’s a rundown of the latest Fiscal Year 2020 Memo

On December 11, 2019, the Centers for Medicare and Medicaid Services published year-end updates from their Quality, Safety & Oversight Group. Known as the Mission Priority Document or ‘MPD,’ the document seeks to inform the public of the group’s annual work including news on regulatory changes, adjustments in budget allocations, fresh initiatives and new requirements for long-term care providers.

The MPD covers a wide range topics. However, industry insiders are especially hopeful about a proposed action that could save facilities $616 million annually. The rule will alleviate burdensome health and safety standard requirements currently imposed upon LTC providers. Besides liſting obsolete and unnecessary barriers to participation, the reform would also provide a substantial monetary benefit.

Road to Deregulation

With reduced regulatory hassle, CMS is optimistic about the future of LTC. The goal of the reform is fairly straightforward: free up resources, enhance resident health and safety.

“We identified obsolete and burdensome regulations that could be eliminated or reformed to improve effectiveness or reduce unnecessary reporting requirements and other costs,” states the report. “We have also examined policies and practices not codified in rules that could be changed or streamlined to achieve better outcomes for residents, while reducing burden on providers and suppliers.”

While the formal action has yet to be finalized, the MPD for FY 2020 suggests a step in the right direction. Memo contributors say CMS will update state surveyors on the new provisions as soon as they are set in stone. SpecialtyRx plans to stay on the story as our partners await their much-deserved piece of the $616M pie.