Becker's Healthcare September 10, 2024
Many leaders feel physician pay is not keeping up with the rising cost of practice, and CMS and other payer moves indicate this trend could continue.
CMS cut overall physician pay by 1.25% for 2024. The rule updates the Medicare conversion factor to $32.74, a 3.4% decrease from 2023. Additionally, some physicians could face more cuts due to the cost-performance category of the merit-based incentive payment system, which could potentially reduce Medicare payments by up to 9%.
“Unfortunately, physicians are losing money in multiple scenarios in medicine,” Taif Mukhdomi, MD, interventional pain physician at Columbus, Ohio-based Pain Zero, told Becker’s. “The most prominent loss of physician revenue is Medicare’s consistent decreasing of physician reimbursement in office settings while supporting...
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