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 2024.
Purpose: It helps healthcare administrators and billing professionals determine the appropriate reimbursement rate based on patient characteristics and services provided.
The calculator uses the formula:
Where:
Explanation: The PDPM daily rate is the sum of all six components, each determined by specific patient characteristics and service needs.
Details: Accurate PDPM rate calculation ensures proper reimbursement for skilled nursing services and helps facilities maintain financial stability.
Tips: Enter each component rate in dollars. All values must be ≥ 0. The calculator sums all components to provide the total daily rate.
Q1: What is PDPM?
A: PDPM is the Patient-Driven Payment Model, the Medicare payment system for skilled nursing facilities implemented in 2019.
Q2: How are the component rates determined?
A: Each component rate is calculated based on patient assessment data (MDS) and CMS-established formulas.
Q3: Are these 2024 rates final?
A: This calculator uses the most current available rates. Always verify with the latest CMS updates.
Q4: Does this include variable per diem adjustments?
A: No, this calculates the base rate. Variable per diem adjustments would be applied separately.
Q5: Where can I find the official component rates?
A: CMS publishes annual rate updates in the Federal Register and on their website.