Financial Penalties from Medicare Will Reach All-Time High in Next Fiscal Year
August 17, 2016 | Risk Management News
More than half of the nation's hospitals will be punished, and financial penalties will reach an all-time high, as Medicare withholds more than half a billion dollars over the next year because of unplanned readmissions, according to an August 2, 2016, article on KHN.org. In 2,597 hospitals last year, more patients than expected were readmitted within a month, the author said. That number is around the same as the previous year, but the average penalty will increase by 20%, accounting for the record financial penalties. The new penalties, which go into effect in October, 2016, are based on expected readmission rates gathered from data on patients who were discharged from a hospital between July 2012 and June 2015.