On November 2, 2023 the Centers for Medicare & Medicaid Services (“CMS”) issued the 2024 Medicare Physician Fee Schedule (“MPFS”) Final Rule which included a 3.37 percent decrease in the MPFS conversion factor from $33.8872 to $32.7442. The Final Rule also indicated the expiration of the 1.0 GPCI floor on December 31, 2023. However, on March 9, 2024, President Joe Biden enacted the Consolidated Appropriations Act, 2024 (“CAA-24”), which raised the MPFS conversion factor from $32.7442 to $33.2875 for claims dated between March 9, 2024, and December 31, 2024. Notably, this adjustment wasn’t retroactive, meaning claims dated between January 1, 2024, and March 8, 2024, would be processed based on the pre-law conversion factor of $32.7442. In addition, the CAA-24 extended the 1.0 GPCI floor through December 31, 2024.

Related

Senate Paper Mulls Options for Fixing Physician Pay in Fee-for-Service Medicare

Healthcare organizations seemed pleased with a Senate Finance Committee white paperopens in a new tab or window on problems with physician payment under the Medicare fee-for-service program, even though the paper was vague on some plans for addressing the issues presented.

  • 0
  • 130

CMS releases 4 proposed payment rules: 15 things to know

CMS has released proposed payment rules for hospices and inpatient rehabilitation, psychiatric and skilled nursing facilities in fiscal year 2025.

  • 0
  • 56

Antitrust agencies are relying on consumers to report anticompetitive behavior. That trust might be misplaced.

Antitrust agencies want everyday Americans to report suspicions of anticompetitive practices in healthcare. Antitrust experts are split on whether this is a good idea. The Federal Trade Commission, Department of Justice and HHS last month unveiled a portal, HealthyCompetition.gov, where anyone can submit a complaint for antitrust agencies to review — and potentially investigate, if […]

  • 0
  • 75

Newsletter

Never miss a thing! Sign up for our newsletter to stay updated.

About

Provider Strategy reports on market developments and insights related to the healthcare provider workforce. Our publication is committed to improving the healthcare professional workforce, utilization of providers, and ultimately supporting thought leadership in workforce innovation.

We are brought to you by the American Association of Provider Compensation Professionals.

Follow