1)The new Minimum Occupancy Penalties creeping in for Indiana SNFs could be scary for facilities with occupancy rates below 70%. This trick-or-treat situation could mean rate penalties, and facilities may even want to consider relinquishing some licensed beds to dodge these financial frights. But beware: Could a reduction in beds cast a shadow over your SNF’s overall valuation? If your interested in exploring the potential impact of a bed reduction on your rates and overall valuation, we are here to assist. 💀
Here’s what to keep an eye out for: 👻 If you’re thinking of a bed reduction to ward off penalties, remember to submit your request to the Indiana State Department of Health by November 15, 2024. This move will take effect on January 1, 2025, and apply retroactively to the 2024 rate calculation. 🎃
2)New Ownership Transparency Rule & Revalidation Requests: CMS has rolled out a new SNF ownership transparency rule, effective October 1, meaning SNFs must reveal more details about their ownership and associated parties. Revalidation requests will be sent out in waves over the next 90 days—watch your mail for the CMS letter, as you’ll have 90 days to respond. 👻🎃
Don’t let these ghoulish new requirements spook you—our team is here to help navigate the changes, handle off-cycle revalidations, and make sure your SNF stays out of the regulatory graveyard! 💀 Reach out if you'd like to discuss your options and strategies to keep your facility in the clear.
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