Proposed 2024 Medicare Physician Fee Schedule is another blow to physician revenue
The proposed 2024 Medicare Physician Fee Schedule sets a 3.4% reduction to the conversion factor for Medicare payment rates, further increasing the gap between practice expenses and reimbursement. The proposed conversion rate would be $32.7476.
Other highlights of the CMS proposal include:
In addition there were several proposed changes to various practice model programs:
“At CMS, our mission is to expand access to health care and ensure that health coverage is meaningful to the people we serve,” said CMS Administrator Chiquita Brooks-LaSure, in a statement. “CMS’ proposals in the proposed physician payment rule would help people with Medicare navigate cancer treatment and have access to more types of behavioral health providers, strengthen primary care, and for the first time, allow Medicare payment for services performed by community health workers.”
“CMS continues to demonstrate commitment to advancing health equity and building a stronger Medicare program,” said Meena Seshamani, MD, CMS deputy administrator and director of the Center for Medicare, in a statement. “If finalized, the proposals in this rule ensure the people we serve experience coordinated care focused on treating the whole person, considering each person’s unique story and individualized needs — physical health, behavioral health, oral health, social determinants of health, and are inclusive of caregivers, which are all so important to providing the care that people with Medicare deserve.”
The proposed cut generated pushback from many professional physician organizations – the summaries of the reactions can be found here.