Understanding of the impact of antipsychotic medications on cognition requires differentiating between treatment effects and practice effects. This prospective study examines expectations for change on neuropsychological assessments and possible differential practice effects in community dwelling schizophrenia patients (n =27) who are clinically stable and on a stable medication regimen when compared to demographically similar psychiatrically healthy controls (n =29). All participants were administered the MATRICS Consensus Cognitive Battery (MCCB) twice over a period of four weeks. The use of Regression Based Norms for Change (RBNC) and Reliable Change Index (RCI) was completed to anchor estimates of meaningful change to a demographically similar control group. A repeated measures ANOVA was used to examine the effects of time and diagnosis on MCCB composite scores. A repeated measures MANOVA was used to examine the effects of time and diagnosis, and their interaction for MCCB subtests. Estimates of meaningful change are provided. A significant main effect was observed for time; no significant interactions were observed. There was no support for differential practice effects. In the absence of any behavioral, cognitive, or pharmaceutical interventions, these findings suggest limited change in performance over time in either group.