The Center for Medicare and Medicaid Services (CMS) has announced that it is reducing payments for skilled nursing facilities by $3.87 billion in fiscal year 2012 (beginning October 1).

The cut represents an 11.1 percent cut in payments, nearly meeting the 11.3 percent cut CMS proposed back in April. The department said the cut would help adjust for unexpected increases in nursing-home payments this fiscal year. Another option would have increased funding by 1.5 percent.

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