Becker's Healthcare December 8, 2023
Here are five updates on the rising cost of healthcare for ASC leaders to monitor:
1. Come 2024, physician pay is shrinking. CMS’ finalized fee schedule will reduce overall physician pay by 1.25% in 2024 and update the conversion factor to $32.74, a 3.4% decrease over last year.
2. The cost to practice medicine is growing. Inflation — specifically in healthcare — continues to rise. The Medicare Economic Index, which measures medical practice cost inflation, increased 4.6% in 2023, the highest in the last 23 years.
3. Reimbursement rates still favor hospital outpatient departments over ASCs. Despite cost-saving opportunities presented by ASCs, reimbursement rates for the same procedures...
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