CMS Issues Proposed 2024 Medicare Physician Fee Schedule
8/31/2023
On July 13, 2023, the Centers for Medicare & Medicaid Services (CMS) released its proposed 2024 Medicare physician fee schedule (MFPS). Highlights of the proposed MFPS include:
• a reduction of the conversion factor by 3.34% for 2023, from $33.89 down to $32.75 due to the expiration of the 2.5% statutory payment increase for 2023, a 1.25% statutory payment increase for 2024, and a 2.17% budget-neutrality reduction.
• a proposal to maintain the definition of “substantive portion” of an E/M service performed by both a physician and non-physician practitioner. Clinicians who furnish a split visit will continue to have a choice of history, physical exam, medical decision making, or more than half of the total time spent to define the substantive portion to determine which practitioner will bill the visit.
Related Practices: Healthcare Law
Related Attorney: Isabelle Bibet-Kalinyak, Edward J. Yun
Related Industry: Healthcare
