The presentation was delivered to the National Investment Center for the Seniors Housing and Care Industry (NIC). The presentation was part of the Skilled Nursing Federal and State Reimbursement Update Session of the NIC Annual Conference on September 24, 2009. Dr. Dobson provided an overview of the Fiscal Year (FY) 2010 Skilled Nursing Facility (SNF) Prospective Payment System (PPS) final rule, and discussed how the future implications of Resource Utilization Group (RUG) IV, non-therapy ancillary payments, and post-acute care bundling may affect the SNF industry.