News Report | April 14, 2019
Psychiatric Facilities Spend Nearly $2 Billion Annually To Comply With Medicare Conditions Of Participation
Psychiatric facilities in the United States spend about $1.7 billion annually to comply with Medicare Conditions of Participation (CoPs) set by the Centers for Medicare & Medicaid Services (CMS). The cost of compliance represents about 4.8% of an average facility's annual revenue for all inpatient psychiatric services from all sources. Key sources of compliance costs include the following:
- Federal regulatory domains attached to participation in the Medicare program: standards for consumer screening and evaluations, medical records and treatment plans, and director qualifications for inpatient psychiatric facilities. These are called B-Tag requirements.
- The . . .