Baker Tilly | 1 CPE | Preparing for the CMS 2025 Wage Index and 2022 Occupational Mix Survey
Filing reports for the Calendar Year (CY) 2022 Occupational Mix Survey (OMS) and submitting revisions for Federal Fiscal Year (FFY) 2025 Wage Index Data are just around the corner, and there are many elements that hospitals and health systems should be preparing for now in advance of their respective July 1, 2023, and Sept. 1, 2023, deadlines. In addition to the work and pulling of data that normally goes into the preparation of these reports, healthcare providers must dive deeper than previous years and take extra precaution by accounting for many transformations that have happened within the industry, including staffing changes with contracted labor from the coronavirus pandemic and Public Health Emergency (PHE).
Join Baker Tilly’s team of healthcare specialists for a discussion about the Center for Medicare & Medicaid Services’ (CMS) FFY 2025 Wage Index and CY 2022 OMS. In addition to giving an update and background on these processes, our team will dive deeper into the variations that are making this round of OMS reporting especially complicated, including employee turnover, compensation increases and bonuses and huge contract labor increases from when the last OMS reporting was submitted based on CY 2019 payroll data. Our team will also dive deeper into the Wage Index review process, and the shifts within the industry that are having a large impact on it as well.