Medicare Physician Fee Schedule

CMS Finalizes 1.25% Cut To Medicare Physician Fee Schedule

November 3, 2023 - CMS has released the Medicare Physician Fee Schedule (PFS) final rule for calendar year (CY) 2024, finalizing a 1.25 percent overall reduction for physician services next year. The federal agency landed on a CY 2024 PFS conversion factor of $32.74, a decrease of $1.15 from CY 2023. The reduction in the conversion factor represents a 3.4 percent...


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Provider Groups Oppose Proposed Payment Cuts in Physician Fee Schedule

by Victoria Bailey

Provider organizations have made it clear they are not happy with the payment cuts CMS proposed in the 2024 Medicare Physician Fee Schedule (PFS). Additionally, groups have voiced concerns about...

CMS Proposes Payment Cuts in CY24 Medicare Physician Fee Schedule

by Victoria Bailey

CMS has proposed payment cuts in its calendar year (CY) 2024 Medicare Physician Fee Schedule (PFS), including a 3.34 percent decrease to the conversion factor that would reduce payment rates by 1.25...

Lawmakers Want to Tie Physician Payment Updates to Inflation

by Jacqueline LaPointe

Several lawmakers are seeking to tie physician payment updates in Medicare to inflation to prevent potential physician shortage issues. Representatives Raul Ruiz, MD (D-CA-25), Larry Bucshon, MD...

Congress to Halve Medicare Payment Cuts Via Year-End Spending Package

by Jacqueline LaPointe

Lawmakers unveiled the $1.7 trillion year-end spending package early this morning, which is expected to avert a government shutdown by Friday if both chambers can pass the measure this week. The...

Providers Leaving No Stone Unturned to Stop Medicare Payment Cuts

by Jacqueline LaPointe

Healthcare industry groups representing over 1 million physicians and other clinicians have joined together to urge Congress to prevent a 4.5 percent Medicare payment cut starting Jan. 1,...

CMS Settles on Physician Fee Schedule Conversion Factor Cut of $1.55

by Jacqueline LaPointe

UPDATED 11/02/2022: CMS has released the Calendar Year (CY) 2023 Physician Fee Schedule (PFS) final rule, which will reduce the conversion factor while expanding access to behavioral health and...

Medical Groups May Reduce Staff, Patients Amid Medicare Payment Cuts

by Victoria Bailey

As medical groups expect to see Medicare payment cuts in 2023, practices are considering limiting the number of new Medicare patients and reducing clinical staff to ensure financial stability,...

Healthcare Orgs Request Medicare Shared Savings Program Updates in PFS

by Victoria Bailey

Healthcare groups, including the American Medical Association (AMA), have asked CMS to consider additional updates to the Medicare Shared Savings Program (MSSP) before finalizing the Medicare Physician...

Physicians Slam Fee Schedule Cuts, Call for Medicare Payment Reform

by Jacqueline LaPointe

The American Medical Association (AMA) and other physician advocacy groups are calling on CMS to reverse proposed Medicare Physician Fee Schedule updates, which would slash Medicare payment for...

Will Medicare Physician Fee Schedule Changes Drive Value-Based Care?

by Victoria Bailey

The proposed changes in the Medicare Physician Fee Schedule (PFS) for calendar year (CY) 2023 may offer incentives for provider groups to consider alternative payment models. Still, the policies will likely require more apparent benefits...

CMS Proposes Quality Payment Program Updates in CY23 PFS Rule

by Victoria Bailey

In its recently released calendar year (CY) 2023 Medicare Physician Fee Schedule (PFS) proposed rule, CMS proposed Quality Payment Program (QPP) changes to the Merit-based Incentive Payment System...

Providers Face Cuts in Medicare Physician Fee Schedule Proposed Rule

by Jacqueline LaPointe

CMS has proposed a decrease to the Medicare Physician Fee Schedule conversion factor, which would lead to significant cuts to physician reimbursement next year. The federal agency released the...

AMA Urges Congress to Update Medicare Physician Payment System

by Victoria Bailey

Following a recent Medicare Payment Advisory Commission (MedPAC) report, the American Medical Association (AMA) has asked Congress to update the Medicare physician payment system to include a stable...

AMA Challenges MedPAC Suggestion to Freeze Medicare Physician Payment

by Sarai Rodriguez

The American Medical Association (AMA) published a statement criticizing the Medicare Payment Advisory Commission’s (MedPAC’s) stance on Medicare physician payments next...

Providers Dodged Major Medicare Payment Cuts But More Work To Be Done

by Jacqueline LaPointe

Healthcare providers have evaded a nearly 10 percent reduction to their Medicare payments in 2022 thanks to swift Congressional action. However, more work still needs to be done to support physicians and hospitals as they navigate a...

Legislation Stopping Medicare Payment Cuts Clears Congress

by Jacqueline LaPointe

UPDATE 12/10/2021: In a 59 to 35 vote on Thursday, the Senate passed legislation that will prevent statutory Medicare payment cuts from taking effect next year. The bill cleared the House earlier this...