Skip to content
NewsroomHealthcare

August 1, 2026, 1:04 PM · Data Story · 14 min read

Removing ulcer-coded claims still leaves about $4.11 more Medicare spending per hospice day

Medicare payments for services outside hospice increased by $1.536 billion from FY2020 to FY2024. After mechanically removing the approximately $696 million increase in pressure-ulcer-coded carrier claims, CMS data indicate that the remaining spending rose by about $4.11 per hospice day, although the exact figure is unavailable because CMS has not published an unrounded FY2020 denominator matched to the final-rule data.

By Cumulant Research

Primary source: federal register rule · Confidence 82 · verified

Hover or tap an underlined term to see its definition.

An empty modern hospital bed beside medical equipment in a private patient room.
An empty hospital bed at a New Jersey medical center illustrates the care settings behind Medicare claims, though this room is not connected to the hospices analyzed. Photo: Famartin, CC BY-SA 4.0, via Wikimedia Commons

The quick version

  • Medicare-paid Parts A, B and D services outside hospice increased from $1.343 billion in FY2020 to $2.879 billion in FY2024, a $1.536 billion rise. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)
  • Pressure-ulcer-coded carrier claims increased by approximately $696 million, arithmetically accounting for 45.3% of the total increase and leaving an approximately $839.8 million residual. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)
  • Using CMS's rounded, boundary-day-excluded hospice-day counts produces the best available estimate: residual spending rose from about $10.51 to $14.63 per day, an increase of approximately $4.11. [CMS 2024 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf) [CMS 2026 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf)
  • In constant 2024 dollars, the approximate increase is $3.05 using the health-specific PCE-Health index and $2.11 using the broader GDP price index. [AHRQ price-index guidance](https://meps.ahrq.gov/about_meps/Price_Index.shtml)
  • CMS reported $510 million in Part A and B beneficiary cost sharing for FY2024; its Part D table records $71.0 million in patient payments and $2.35 million in other true out-of-pocket amounts, or $73.4 million combined. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)

Figure

About $4.11 more per hospice day

Approximate nominal FY2020-FY2024 increase after removing pressure-ulcer-coded carrier claims

4.11

approximate nominal increase per day

From about $10.51 to $14.63

The estimate uses CMS's rounded boundary-day-excluded counts of 126.0 million days for FY2020 and 148.0 million for FY2024. CMS has not published an unrounded FY2020 denominator matched to the final-rule extraction.

Source: Cumulant calculation from CMS final-rule Tables 5 and 6 and CMS Hospice Monitoring Reports: https://public-inspection.federalregister.gov/2026-15686.pdf ; https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf ; https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf · $ per hospice day · FY2020-FY2024

Why it matters

The analysis shows that pressure-ulcer-coded claims explain a large but incomplete share of the rise in Medicare spending outside the hospice benefit. The remaining increase spans drugs, other carrier claims and institutional care, raising policy questions about Medicare reimbursement, hospice benefit boundaries and billing oversight. Beneficiaries are also exposed through deductibles, coinsurance and recorded Part D out-of-pocket payments.

What changed

  • Updates the FY2027 hospice wage index, payment rates and statutory aggregate cap for the fiscal year beginning October 1, 2026.
  • Makes the hospice election-statement addendum mandatory for every Medicare beneficiary at hospice election, replacing the request-based approach in effect since 2020.
  • Finalizes conforming rules governing discharge from hospice care and changes to face-to-face encounter regulations.
  • Presents updated analysis of Medicare spending outside the hospice benefit and provider-level variation through the nine-measure Hospice Service and Spending Variation Index.
  • Updates Hospice Quality Reporting Program requirements.

The answer, with one necessary qualifier

The best available CMSCMSThe Centers for Medicare & Medicaid Services is the federal agency that administers Medicare and issued the hospice rule analyzed here. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)-centered estimate is approximately $4.11 more per hospice dayhospice dayA hospice day is one day for which a beneficiary is recorded as receiving Medicare hospice care. [CMS 2026 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf). After removing pressure-ulcer-coded carrier claims, MedicareMedicareMedicare is federal health insurance mainly for people aged 65 or older and certain younger people with disabilities or qualifying conditions. [Medicare](https://www.medicare.gov/basics/get-started-with-medicare/medicare-basics/parts-of-medicare)-paid services outside hospicehospiceHospice is comfort-focused end-of-life care for a person certified as having a life expectancy of six months or less if the illness follows its normal course. [Medicare](https://www.medicare.gov/coverage/hospice-care) rose from about $10.51 per day in FY2020 to $14.63 in FY2024. That is the answer the public data support, but it is not exact because CMS publishes the relevant day totals only as 126.0 million and 148.0 million. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf) [CMS 2024 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf) [CMS 2026 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf)

Think of the denominatordenominatorA denominator is the quantity used to scale a total, here the number of hospice days over which spending is spread. [CMS 2024 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf) as miles traveled. A larger fuel bill can reflect a higher price per gallon, more miles, or both. Hospice days increased over this period, so comparing total spending alone would overstate the change in spending for each day of exposure. CMS's day counts let us make a close approximation, but the agency has not published an unrounded FY2020 count from the same May 2025 data extraction used for the final rule. [CMS 2024 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf) [CMS 2026 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf)

Figure

About $4.11 more per hospice day

Approximate nominal FY2020-FY2024 increase after removing pressure-ulcer-coded carrier claims

4.11

approximate nominal increase per day

From about $10.51 to $14.63

The estimate uses CMS's rounded boundary-day-excluded counts of 126.0 million days for FY2020 and 148.0 million for FY2024. CMS has not published an unrounded FY2020 denominator matched to the final-rule extraction.

Source: Cumulant calculation from CMS final-rule Tables 5 and 6 and CMS Hospice Monitoring Reports: https://public-inspection.federalregister.gov/2026-15686.pdf ; https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf ; https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf · $ per hospice day · FY2020-FY2024

Step one: reconstruct the spending increase

CMS Table 5 reports Medicare payments for outside-hospice Part A and Part B services by claimclaimA claim is a provider's request for payment for a medical service, drug, supply or item. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf) type. Adding its six rows gives $789,928,982 in FY2020 and $2,065,535,136 in FY2024. Table 6 reports Medicare-paid Part D amounts of $552,953,466 and $813,107,802 for those years. Combined spending therefore rose from $1,342,882,448 to $2,878,642,938, an increase of $1,535,760,490. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)

These are Medicare payments to providers or drug plans outside the hospice payment while a beneficiary was enrolled in hospice. CMS apportioned longer Part A and B claims across their service days and counted only the portions overlapping a hospice electionhospice electionA hospice election is the beneficiary's formal choice to receive Medicare's hospice benefit for a terminal illness and related conditions. [Medicare](https://www.medicare.gov/coverage/hospice-care), excluding admission and live-discharge days; Part D spending was assigned by the drug-event service date with the same boundary-day exclusions. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)

Step two: remove the ulcer-coded component

CMS says carrier claims coded for pressure ulcers increased from approximately $18 million in FY2020 to $714 million in FY2024 and were largely associated with skin substitutes. The approximately $696 million difference equals 45.3% of the combined $1.536 billion increase. Subtracting it leaves approximately $839.8 million. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)

Arithmetic, not causation

The $839.8 million residualresidualA residual is the amount left after a selected component is subtracted, without identifying what caused the remainder. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf) is not an estimate of fraud, improper payment, avoidable care or achievable savings. It answers only what remains after one approximately measured claim category is mechanically removed. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)

The wider skin-substitute market gives CMS a reason to scrutinize the category, but not grounds to label every claim improper. The HHS inspector general reported that Medicare Part BMedicare Part BPart B helps cover clinicians, outpatient care, home health, medical equipment and preventive services. [Medicare](https://www.medicare.gov/basics/get-started-with-medicare/medicare-basics/parts-of-medicare) skin-substitute spending exceeded $10 billion annually by the end of 2024 and identified utilization, prices and billing vulnerabilities as concerns. That national finding supplies context, not proof about any individual hospice claim. [HHS OIG](https://oig.hhs.gov/reports/all/2025/medicare-part-b-payment-trends-for-skin-substitutes-raise-major-concerns-about-fraud-waste-and-abuse/)

Figure

Ulcer-coded claims explain less than half of the dollar increase

Mechanical decomposition of the $1.536 billion increase in Medicare-paid outside-hospice spending

Ulcer-coded carrier
696
All remaining spending
839.8

Zero-based scale. The ulcer amounts are approximate, and subtraction does not establish causation, impropriety or potential savings.

Source: Cumulant calculation from CMS final-rule Tables 5 and 6 and CMS's approximate ulcer-coded carrier amounts: https://public-inspection.federalregister.gov/2026-15686.pdf · $ millions · FY2020-FY2024

Figure

Other carrier claims and Part D drugs dominate the residual

Approximate change after pressure-ulcer-coded carrier claims are removed

Claim typeChange ($ millions)
Other carrier claims492.5
Part D drugs260.2
Outpatient58.3
Inpatient41
Durable equipment5.3
Home health3.4
Skilled nursing-21

Other carrier spending subtracts CMS's rounded ulcer amounts from the carrier category. Displayed rows may not sum exactly because of rounding.

Source: Cumulant calculations from CMS final-rule Tables 5 and 6: https://public-inspection.federalregister.gov/2026-15686.pdf · $ millions · FY2020-FY2024

Step three: find a usable denominator

CMS's 2024 Hospice Monitoring Report supplies a boundary-day-excluded count of 126.0 million hospice days for FY2020. Its newer 2026 report, using the May 9, 2025 extraction also used for the final-rule spending totals, reports 148.0 million such days for FY2024. Dividing the two residual totals by those rounded day counts produces approximately $10.51 and $14.63 per day. [CMS 2024 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf) [CMS 2026 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf)

The denominator problem is narrower than the original article suggested. CMS does publish methodologically relevant daily counts, so a per-day estimate is possible. What it does not publish is an unrounded FY2020 count from the same extraction as the final rule, which prevents an exact result. The older report warns that late-FY2024 results could be incomplete, while the newer report revises FY2024 using later claims data. [CMS 2024 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf) [CMS 2026 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf)

Figure

The approximate residual rose even as hospice days increased

Residual Medicare spending outside hospice per boundary-day-excluded hospice day

FY2020
10.51
FY2024
14.63

Zero-based scale. Both daily values are approximate because CMS publishes the relevant day totals rounded to one decimal million.

Source: Cumulant calculation from CMS final rule and CMS Hospice Monitoring Reports: https://public-inspection.federalregister.gov/2026-15686.pdf ; https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf ; https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf · $ per hospice day · FY2020 and FY2024

As a sensitivity test, broader MedPACMedPACThe Medicare Payment Advisory Commission is an independent congressional agency that analyzes Medicare and advises Congress. [MedPAC 2026](https://www.medpac.gov/wp-content/uploads/2026/03/Mar26_Ch10_MedPAC_Report_To_Congress_SEC.pdf) totals of 127.8 million days in 2020 and 148.2 million in 2024 produce a slightly larger nominal increase of $4.24 per day, from $10.37 to $14.61. Those totals are rounded and do not reproduce CMS's boundary-day exclusions or data-extraction sequence, so $4.24 is a robustness check rather than the preferred estimate. [MedPAC 2022](https://www.medpac.gov/wp-content/uploads/2022/03/Mar22_MedPAC_ReportToCongress_Ch11_SEC.pdf) [MedPAC 2026](https://www.medpac.gov/wp-content/uploads/2026/03/Mar26_Ch10_MedPAC_Report_To_Congress_SEC.pdf)

Step four: separate price growth from real growth

The $4.11 estimate is nominal, meaning each year's dollars retain that year's purchasing power. AHRQ's PCE-Health index increased from 105.442 in 2020 to 116.048 in 2024. Restating the FY2020 residual in 2024 health-care prices raises its baseline from $10.51 to about $11.57 per day, leaving an approximate constant-dollar increase of $3.05. [AHRQ price-index guidance](https://meps.ahrq.gov/about_meps/Price_Index.shtml)

AHRQ recommends the broader GDP price indexGDP price indexThe GDP price index is a broad measure of price changes across goods and services produced in the United States. [AHRQ](https://meps.ahrq.gov/about_meps/Price_Index.shtml) for comparisons of total expenditures from a societal perspective. That index increased from 105.398 to 125.430, which restates the FY2020 baseline at about $12.51 per day and reduces the estimated increase to $2.11. The choice answers different questions: PCE-Health asks how spending changed relative to health-care prices, while the GDP index compares it with prices across the domestic economy. [AHRQ price-index guidance](https://meps.ahrq.gov/about_meps/Price_Index.shtml)

Figure

Inflation reduces the estimated increase but does not erase it

Approximate FY2020-FY2024 increase under three price treatments

Nominal
4.11
PCE-Health
3.05
GDP prices
2.11

Zero-based scale. Constant-dollar calculations restate the FY2020 baseline in 2024 prices before comparing it with FY2024.

Source: Cumulant calculation from CMS data and AHRQ price indices: https://public-inspection.federalregister.gov/2026-15686.pdf ; https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf ; https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf ; https://meps.ahrq.gov/about_meps/Price_Index.shtml · $ per hospice day · FY2020-FY2024

What remains after the subtraction

The residual is not a mystery category. Approximately $492.5 million comes from other carrier claims and $260.2 million from Part D drugs. Outpatient and inpatient services add approximately $58.3 million and $41.0 million, while smaller increases in durable medical equipment and home health are partly offset by a roughly $21.0 million decline in skilled-nursing-facility spending. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)

CMS's policy concern is that the hospice per diemper diemPer diem means that Medicare pays a hospice for each day a qualified beneficiary is under its care. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf) is supposed to cover care related to the terminal illness and related conditions, while Original MedicareOriginal MedicareOriginal Medicare is the federal program consisting of Part A and Part B, with optional separate Part D drug coverage. [Medicare](https://www.medicare.gov/basics/get-started-with-medicare/medicare-basics/parts-of-medicare) may continue paying for genuinely unrelated care. Claims data can show that another part of Medicare paid a bill during a hospice election, but the national totals cannot by themselves decide whether each service was related, clinically appropriate or incorrectly billed. [Medicare hospice coverage](https://www.medicare.gov/coverage/hospice-care) [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)

Beneficiaries also face cost sharingcost sharingCost sharing is the portion of a covered medical cost assigned to the beneficiary or another payer through a deductible, coinsurance or copayment. [Medicare](https://www.medicare.gov/basics/costs/medicare-costs) outside the hospice bundlehospice bundleThe hospice bundle is the group of related services, drugs, supplies and equipment intended to be covered by Medicare's daily hospice payment. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf). CMS reported $510 million in Part A and B deductibles and coinsurancecoinsuranceCoinsurance is a percentage of an approved medical charge assigned to the beneficiary after any applicable deductible. [Medicare](https://www.medicare.gov/basics/costs/medicare-costs) for FY2024. Its Part D table records $71,000,446 in patient payments and $2,354,151 in other true out-of-pocket amounts, totaling $73,354,597. These claim fields measure assigned or recorded cost sharing, not a household survey of who ultimately supplied the cash. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf) [Medicare costs](https://www.medicare.gov/basics/costs/medicare-costs)

What CMS would need to publish for an exact answer

An exact calculation would require an unrounded FY2020 hospice-day denominator built with the same exclusions and claims extraction as the final-rule numerator, plus unrounded pressure-ulcer-coded carrier totals for both endpoint years. CMS already publishes the underlying methodology and later-year day totals, so adding that small reconciliation table would close the remaining gap. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf) [CMS 2026 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf) [CMS SSVISSVIThe Service and Spending Variation Index is a CMS score combining eight hospice-utilization measures with one outside-spending measure to identify potentially concerning provider patterns. [CMS SSVI overview](https://www.cms.gov/files/document/ssvi-overview.pdf) overview](https://www.cms.gov/files/document/ssvi-overview.pdf)

The defensible conclusion is not that the residual cannot be measured per day. It is that the public data place it near $4.11 per day, while withholding the matched precision needed to put extra decimal places on the answer.

What to watch

  • Whether CMS publishes matched, unrounded hospice-day and pressure-ulcer claim totals.
  • How CMS applies the FY2027 final rule after it takes effect on October 1, 2026.
  • Whether scrutiny of skin-substitute billing changes carrier-claim spending.
  • Whether outside-hospice spending continues to rise after adjusting for hospice days and inflation.

Confirmed

  • The Federal Register identifies the document as a final CMS rule scheduled for publication on August 3, 2026.
  • The final-rule abstract expressly confirms the universal election-statement addendum requirement, wage-index and payment updates, aggregate-cap update, discharge-rule changes and face-to-face encounter changes.
  • CMS's April proposal used a 2.4% payment increase, estimated at $785 million, and a $36,210.11 aggregate cap; those proposal figures should not be represented as final without checking the final rule's payment tables.
  • CMS said in the proposal that Medicare non-hospice spending during hospice elections increased consistently from FY2020 through FY2024, particularly Part A and Part B spending.
  • CMS's published SSVI framework combines eight utilization indicators with a non-hospice-spending component, but the final-rule abstract does not itself establish a financial penalty tied to the score.

Reported, not confirmed

  • Hospice trade groups told Hospice News that the proposed 2.4% increase would not fully cover labor and operating-cost pressures; that is an industry position concerning the proposal, not an independently verified financial outcome.
  • NPHI and the National Alliance for Care at Home argued in comment letters that the SSVI could disadvantage larger, rural or clinically complex hospices and may attribute spending to hospices that they cannot control; CMS has not independently validated those claims.

How we did this

  • We treated CMS final-rule Tables 5 and 6 as the controlling source for Medicare-paid outside-hospice spending because they use claims extracted on May 9, 2025. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)
  • We summed the six Part A and B claim categories and added CMS's Medicare-paid Part D amount for each endpoint year, producing $1,342,882,448 for FY2020 and $2,878,642,938 for FY2024. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)
  • We subtracted CMS's approximate pressure-ulcer-coded carrier amounts of $18 million and $714 million from the respective totals, producing residuals of approximately $1,324,882,448 and $2,164,642,938. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)
  • For the preferred per-day approximation, we divided those residuals by CMS's rounded, boundary-day-excluded counts of 126.0 million hospice days in FY2020 and 148.0 million in FY2024. [CMS 2024 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf) [CMS 2026 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf)
  • We tested denominator sensitivity with MedPAC's broader rounded totals of 127.8 million hospice days in 2020 and 148.2 million in 2024, which yielded a $4.24 nominal increase instead of $4.11. [MedPAC 2022](https://www.medpac.gov/wp-content/uploads/2022/03/Mar22_MedPAC_ReportToCongress_Ch11_SEC.pdf) [MedPAC 2026](https://www.medpac.gov/wp-content/uploads/2026/03/Mar26_Ch10_MedPAC_Report_To_Congress_SEC.pdf)
  • For constant-dollar estimates, we multiplied the FY2020 per-day baseline by the ratio of the 2024 index to the 2020 index, then subtracted that restated baseline from the FY2024 value. The PCE-Health calculation used 105.442 and 116.048; the GDP calculation used 105.398 and 125.430. [AHRQ price-index guidance](https://meps.ahrq.gov/about_meps/Price_Index.shtml)
  • We treated all subtraction and inflation exercises as descriptive calculations and did not infer fraud, causation, clinical appropriateness, household cash spending or achievable savings from the aggregate claims data.

What this cannot establish

  • CMS describes the pressure-ulcer-coded carrier amounts as approximately $18 million and $714 million, so the $696 million subtraction, 45.3% share and $839.8 million residual inherit that rounding. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)
  • CMS publishes the FY2020 boundary-day-excluded denominator as 126.0 million rather than an exact count, and that figure comes from an earlier claims extraction than the final-rule numerator. [CMS 2024 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2024.pdf) [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)
  • The newer CMS monitoring report publishes 148.0 million relevant days for FY2024 but begins its historical series in FY2021, preventing a matched FY2020-FY2024 calculation from one extraction. [CMS 2026 monitoring report](https://www.cms.gov/files/document/hospice-monitoring-report-2026.pdf)
  • MedPAC's day totals are broader counts of Medicare hospice days and do not reproduce CMS's exclusions, so the $4.24 MedPAC-based result is only a sensitivity calculation. [MedPAC 2022](https://www.medpac.gov/wp-content/uploads/2022/03/Mar22_MedPAC_ReportToCongress_Ch11_SEC.pdf) [MedPAC 2026](https://www.medpac.gov/wp-content/uploads/2026/03/Mar26_Ch10_MedPAC_Report_To_Congress_SEC.pdf)
  • The calculation does not adjust for changes in patient diagnoses, illness severity, length of stay, provider ownership or other case-mix differences between FY2020 and FY2024.
  • Diagnosis codes and payment categories do not by themselves determine whether an individual service was related to the terminal illness, clinically appropriate, improperly billed or avoidable. [CMS final rule](https://public-inspection.federalregister.gov/2026-15686.pdf)
  • The cost-sharing fields are claims-based amounts and do not establish how much was ultimately paid directly from household resources rather than by supplemental coverage or another payer. [Medicare hospice coverage](https://www.medicare.gov/coverage/hospice-care) [Medicare costs](https://www.medicare.gov/basics/costs/medicare-costs)
  • The final payment-update percentage, estimated aggregate spending increase, cap amount and individual per-diem rates require confirmation from the final rule's full payment tables because indexed CMS materials still describe the April proposal.
  • Whether and how CMS will use SSVI scores for enforcement, sanctions, referral scrutiny or consumer-facing comparisons beyond publishing and analyzing the data.
  • Provider-specific gains and losses from geographic wage-index redistribution.
  • The compliance cost and beneficiary-behavior effect of giving the addendum universally rather than upon request.
  • The earnings sensitivity for individual operators, which depends on Medicare mix, geography, quality-reporting compliance and non-hospice-spending patterns.

This is AI-assisted analysis under stated assumptions; it is not investment advice or a price target. Figures are as of the publication date and trace to the cited sources; markets and disclosures change.

Sources

  1. 01FY 2027 Hospice Wage Index and Payment Rate Update and Hospice Quality Reporting Program Requirements, Centers for Medicare & Medicaid Services and Federal RegisterPrimary
  2. 02July 31, 2026 Public Inspection Issue, Federal RegisterPrimary
  3. 03Understanding Public Inspection, Federal RegisterPrimary
  4. 04Hospice Monitoring Report 2026, Centers for Medicare & Medicaid ServicesData
  5. 05Hospice Monitoring Report 2024, Centers for Medicare & Medicaid ServicesData
  6. 06Service and Spending Variation Index Overview, Centers for Medicare & Medicaid ServicesData
  7. 07Hospice Services, March 2022 Report to the Congress, Medicare Payment Advisory CommissionData
  8. 08Hospice Services, March 2026 Report to the Congress, Medicare Payment Advisory CommissionData
  9. 09Comment on the FY2027 Hospice Proposed Rule, Medicare Payment Advisory CommissionPrimary
  10. 10Using Appropriate Price Indices for Analyses of Health Care Expenditures, Agency for Healthcare Research and QualityData
  11. 11Medicare Part B Payment Trends for Skin Substitutes Raise Major Concerns About Fraud, Waste, and Abuse, HHS Office of Inspector GeneralSecondary
  12. 12Parts of Medicare, Medicare.govPrimary
  13. 13Your Medicare Coverage Options, Medicare.govPrimary
  14. 14Hospice Care Coverage, Medicare.govPrimary
  15. 15Drug Coverage Basics, Medicare.govPrimary
  16. 16Medicare Costs, Medicare.govPrimary
MedicareHospiceCMSHealth careFederal spendingData journalismHealth policyHospice careUnited States

Related

Healthcare

HHS did not disclose how much of its $1.07 billion Medicaid deferral was new

HHS said on July 21 that it was deferring about $867.5 million for California and $199 million for Minnesota. Its public release did not identify the reporting quarters, deferral numbers or reconciliation needed to separate newly deferred expenditures from amounts represented in earlier actions, leaving both the unique total and the currently unpaid balance unknown. [HHS](https://www.hhs.gov/press-room/hhs-defers-medicaid-payments-california-minnesota-fraud-review.html) [Associated Press](https://apnews.com/article/medicaid-fraud-minnesota-california-oz-rfk-trump-24033ef9807b46f8b6fd6614ef5b1169)

Entrance and sign at the U.S. Department of Health and Human Services headquarters in Washington, D.C.
Healthcare

The 9-0 Loss That Came Back Deeper: CMS Now Proposes Paying 340B Drugs 37% Less, and the Survey Is Why

On 2 July 2026, CMS proposed paying 340B hospitals average sales price minus 33.4 percent for outpatient drugs, a deeper cut than the ASP minus 22.5 percent the Supreme Court struck 9-0 in 2022. The analysis finds CMS could cut deeper precisely because it ran the acquisition-cost survey the Court had demanded, and that budget neutrality recycles the entire cut back into other payments, so the real story is redistribution across hospitals and patients, not net savings for anyone.

An intravenous infusion line and drip chamber hanging on a clinical stand, with no people in frame.
Healthcare

The copay that leaves no trace: Medicare's new $50 GLP-1 deal charges the sick and the poor the most

Medicare's first weight-loss drug benefit went live July 1 with a flat $50 monthly copay, but the payment is booked outside Part D's out-of-pocket ledger. That design makes the deal a bargain for the healthiest eligible enrollees and a $450-to-$600-a-year surcharge for beneficiaries who hit the $2,100 drug cap or rely on the Extra Help low-income subsidy.

The copay that leaves no trace: Medicare's new $50 GLP-1 deal charges the sick and the poor the most
Healthcare

The ACA Premium Spike Is Mostly Sticky Care Cost. Only a Thin Policy Slice Can Round-Trip.

Insurers requested their largest average increase in more than five years for 2026 coverage, an estimated 26%, and early 2027 filings point to a second straight double-digit year. A decomposition of the typical request shows only about 4 percentage points are the kind of reversible, subsidy-driven markup that a credit extension could refile away before the 12 August window closes. The rest is locked-in medical cost growth, and the healthy enrollees the markup was hedging against have largely already left.

A doctor's stethoscope and a small wooden heart lying on a wooden surface.