Becker's Healthcare November 2, 2023
CMS will reduce overall physician pay 1.25% in 2024, while boosting pay for some visits including primary and longitudinal care.
The agency released the 2024 Physician Fee Schedule Final Rule Nov. 2, which updates the conversion factor to $32.74, a 3.4% decrease over last year. The final rule does improve pay for primary care and mental healthcare, among select items.
The American Medical Association President Jesse Ehrenfeld, MD, issued a statement criticizing the rule. He noted the Medicare Economic Index, which measures medical practice cost inflation, increased 4.6%, the highest in the last 23 years. The drop in physician pay will be challenging, especially for independent physicians.
“This is a recipe for financial instability,” Dr. Ehrenfeld wrote. “Patients and physicians...
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