SAVE Medicare Home Health Act of 2014

Securing Access Via Excellence for Medicare Home Health Act of 2014 or the SAVE Medicare Home Health Act of 2014 - Amends title XVIII (Medicare) of the Social Security Act, with respect to the prospective payment system (PPS) for home health services, to repeal the rebasing reduction adjustment for 2014 and subsequent years required by the Patient Protection and Affordable Care Act (PPACA).

Establishes a calendar year 2014 payment adjustment under such PPS.

Directs the Secretary of Health and Human Services (HHS) to conduct a detailed analysis of the rebasing reduction in Medicare payments for home health services promulgated under the rule for home health prospective payment system rate update for calendar year 2014.

Directs the Secretary to specify a home health all-cause all-condition hospital unplanned readmission measure for readmissions (for any cause) to a hospital for an individual entitled to benefits under Medicare part A (Hospital Insurance) (or enrolled under Medicare part B [Supplementary Medicare Insurance]) and who is receiving post-hospital home health services. Requires this measure to be risk adjusted for potentially preventable readmission to a hospital for such an individual.

Directs the Secretary of Health and Human Services (HHS) to establish: (1) a Medicare home health agency value-based purchasing program (HHA VBP) under which value-based incentive payments are made in a year to home health agencies, and (2) performance standards for application of the unplanned readmission measure.

Directs the Secretary to develop by regulation a methodology for assessing the total performance of each home health agency based on these performance standards.

Directs the Secretary to: (1) withhold from the payment rates made for each year for home health services the amount necessary so that enactment of this Act is estimated not to result in any net change in payments made for Medicare services, and (2) provide for a distribution of a portion of those withheld amounts for performance payments to home health agencies.

Directs the Medicare Payment Advisory Commission (MEDPAC) to review the progress of the HHA VBP and make appropriate recommendations on any improvements that should be made to the program.