Unfortunately, the rule proposes a 2024 PFS conversion factor of $32.75, a decrease of 3.4 percent from the 2023 conversion factor of $33.89.This decrease reflects: the expiration of the 2.5 percent increase for 2023 included in a December 2022 law, the institution of a 1.25 percent increase ...
Under the physician fee schedule (PFS), average payment rates will reduce the conversion factor by 2.83% in 2025 compared to 2024 rates, resting at $32.35 in 2025 compared to $33.29 in 2024. The PFS final rule eliminates the temporary 2.93% increase in Medicare physician paymen...
Instead, CMS is applying the default rate, generally ASP plus 6 percent, to 340B-acquired drugs and biologicals in this final rule for CY 2023 and removing the increase to the conversion factor that was made in CY 2018 to implement the 340B policy in a budget neutral manner...
Conversion Factor CMS proposes an MPFS conversion factor (CF) of $32.75 for CY 2024, a 3.34 percent decrease from the current CF of $33.89. This reduction is due to a 2.18 percent decrease to maintain budget neutrality, which is partially offset by a 1.25 percent increase from ...
The proposed CY 2024 PFS conversion factor is $32.75, a decrease of $1.14, or 3.34%, from CY 2023. Advancing Health Equity and Caregiver Support Building on the agency’s commitment to health equity, and the Biden-Harris Administration’s Executive Order to support caregivers, CMS is ...
August 7, 2023 –Legal Alerts Timothy Cahill and Bryan CockroftThe Centers for Medicare & Medicaid Services (“CMS”) has announced its proposed rules for the Hospital Outpatient Prospective Payment (“OPPS”) and Ambulatory Surgical Center (“ASC”) Payment Systems, as well as its calendar...
CMS’ proposed 2023 physician fee schedule includes a 4.42% reduction of the conversion factor, the starting point for calculating Medicare payments for physician services. The proposed conversion factor for calendar year 2023 is $33.08, a decrease of $1.53 from the 2022 PFS conversion factor of ...
Additionally, the proposed rule would decrease the conversion factor by more than a dollar to $33.58 starting January 1, 2022. CMS also aims to enhance diabetes prevention programs, ensure quality care for Medicare beneficiaries, and create equal opportunities for...
Since CMS plans to make an additional payment to 340B hospitals, the agency proposes to recoup the billions of dollars in excess outpatient payments by reducing the conversion factor by 0.5 percent over the next 16 years. Providers who enrolled in Medicare after January 1, 2018...
senior vice president of government affairs for MGMA. "Heading into the 119th Congress, while retroactively addressing the 2.83% cut to the conversion factor is of utmost importance, permanent reform to the Medicare payment system is needed to sustainably support medical groups and their ability to...