On July 31, 2014, CMS released Medicare’s final inpatient psychiatric facilities (IPF) PPS rule. CMS announced that the 2.9% estimated market basket update will be reduced by 0.5% for economy-wide productivity and 0.3%, as required by Section 1886(s)(2)(A)(ii) of the Social Security Act. The FY 2015 per diem rate will be $738.21, the national urban cost-to-charge ratio (CCR) ceiling will be 1.6582, and the national rural CCR ceiling will be 1.8590. The final rule is expected to be published in the Federal Register on August 6, 2014. A display copy is available here.