Daily Rate Formula:
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Definition: This calculator computes the daily rate under the Patient-Driven Payment Model (PDPM) for skilled nursing facilities in fiscal year 2023.
Purpose: It helps healthcare administrators and financial analysts determine the reimbursement rate for Medicare Part A patients in SNFs.
The calculator uses the formula:
Where:
Explanation: The daily rate is the sum of all six PDPM components as defined by CMS for FY 2023.
Details: Accurate PDPM rate calculation ensures proper Medicare reimbursement and helps facilities maintain financial stability while providing quality care.
Tips: Enter all component rates in dollars. Values must be ≥ 0. The calculator sums all components to give the total daily rate.
Q1: Where do I find the component rates?
A: Component rates are determined by CMS based on patient characteristics and can be found in the PDPM grouper tool or CMS documentation.
Q2: Does this include variable per diem adjustments?
A: No, this calculates the base rate. Variable per diem adjustments for NTA and PT would need to be applied separately.
Q3: Is this calculator specific to FY 2023?
A: Yes, rates and components are specific to FY 2023. Later years may have different rates or components.
Q4: How often should I calculate the PDPM rate?
A: Rates should be calculated for each patient at admission and reassessed with any significant change in condition.
Q5: What about the urban/rural adjustment?
A: This calculator shows the unadjusted rate. Apply the appropriate wage index separately based on facility location.