On Friday, July 29 the Centers for Medicare & Medicaid Services (CMS) released the 2023 Skilled Nursing Facility (SNF) final rule, and on Monday, August 1 CMS released the 2023 Inpatient Prospective Payment System (IPPS) final rule. Both rules are effective for fiscal year 2023, which begins on October 1, 2022. Nursing facilities will see a 2.7% net payment rate increase and per the IPPS rule, hospitals meeting quality reporting requirements will receive a payment increase of 4.3%. Fact sheets are available on the CMS website for the SNF final rule and the IPPS final rule. Members with questions about the impending conversion factor cuts and our Academy advocacy can contact staff at email@example.com.