HealthIT Answers February 23, 2021
By Lucy Zielinski, Managing Partner, Lumina Health Partners
The new CMS 2021 Physician Fee Schedule (PFS) went into effect on January 1, 2021. Most of the final rule consists of expected policy refinements, but the regulations do include some significant changes that will impact medical practice productivity, strategy and revenue.
To take full advantage of the new fee schedule, physicians and medical practice leaders should focus on three immediate priorities:
1. Evaluate How the New Conversion Factor Will Impact Revenue
The new PFS has cut the payment conversion factor from $36.09 to $34.89, a decrease of more than 3%. However, CMS has also increased relative value units (RVUs) for several evaluation and management (E/M) codes. For example, the most utilized...
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