Lexology November 21, 2025
On October 31, 2025, the Centers for Medicare & Medicaid Services (“CMS”) issued its calendar year (“CY”) 2026 Medicare Physician Fee Schedule (“MPFS”) final rule (“Final Rule”), announcing finalized policy changes for Medicare payments under the MPFS and other Medicare Part B (“Part B”) issues, effective on or after January 1, 2026. The Final Rule is largely consistent with what was previously shared in CY 2026 proposed rules, with a few modifications as a result of public comment. Several major provisions are summarized below, and the fact sheet accompanying this Final Rule can be found here.
Rate Setting and Conversion Factor Update
The conversion factor is a dollar amount set annually by CMS and used to convert relative value units...







