... CMS has updated the standard payment conversion factor per section 115 of the Medicare, Medicaid, and SCHIP Extension Act of 2007 and has also provided hospitals a mechanism to submit "no-pay" bills to Medicare for Medicare Advantage (MA) patients.
On Aug. 24, 2007, CMS issued CR 5694 to outline the prospective payment rates applicable for inpatient rehab facilities (IRFs), effective for FY08. CR 5694 also instructed the standard system maintainer to install the new IRF prospective payment system (PPS) Pricer that contained updated FY08 rates, which set the standard payment conversion factor (also known as the standard federal rate) at $13,451.
On July 20, 2007, ...