The U.S. Centers for Medicare & Medicaid Services (CMS) released this past Friday a proposed 4.2% cut in payment for home health care in 2023. Alex and Mo both own home health businesses and will pivot today from our usual live guest broadcast to discuss this pressing release. With inflation rising, cost of gas for transportation also increasing, labor costs and cost of living skyrocketing, this proposal could not come at a more inconvenient time. We saw massive job loss when PDGM was introduced by home health agencies and another will probably be on the horizon as home health agencies will struggle to maintain or even grow their profit margin with employee demands for increased wages and benefits versus cuts in reimbursement by its largest payer- CMS.
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