CMS Issues Four Final Payment Rules

The United States Centers for Medicare & Medicaid Services ("CMS") recently issued four final payment rules for 2024. Below are the highlights from each update.

Physician Fee Schedule Final Rule

CMS released the calendar year ("CY") 2024 Medicare Physician Fee Schedule ("PFS") final rule (88 FR 78818) which finalizes policies for Medicare payments under the PFS and other Medicare Part B issues, and will take effect on January 1, 2024.

Notably, the PFS conversion factor for 2024 is $32.74, a $1.15 or 3.4% decrease from the 2023 conversion factor of $33.89, which reduces overall physician pay. Beyond the reduction, CMS finalized policies relating to telehealth services, updates to the Medicare Shared Savings Program ("MSSP"), programs to promote coverage and payment for additional services, and changes to develop physician quality initiatives.