Healthcare Economist January 9, 2025
At the end of last year, CMS finalized a rate cut for Medicare reimbursement to physicians. The CMS Fact Sheet states:
…average payment rates under the PFS [Physician Fee Schedule] will be reduced by 2.93% in CY 2025, compared to the average amount these services were paid for most of CY 2024
This sounds like a modest pay cut, but the American Medical Association the real impact is even larger. CMS reports that the Medicare Economic Index (MEI)–a measure of practice cost inflation from staff salaries and wages, office space, supplies and malpractice–increased by 3.5%. Thus, with reimbursement falling and practice cost rising the real reimbursement reduction...
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