Becker's Healthcare November 3, 2023
CMS released its 2024 physician fee schedule final rule Nov. 2, which updates the conversion factor to $32.74, a 3.4% decrease from last year. The announcement was not a welcome one for physician groups.
“This is a recipe for financial instability,” American Medical Association President Jesse Ehrenfeld, MD, said in a Nov. 2 statement “Patients and physicians will wonder why such thin gruel is being served.”
Dr. Ehrenfeld said physicians have routinely faced cuts over the past two decades, “yet, there is nothing routine about the past few years.”
“Physicians have faced the COVID pandemic and subsequent burnout,” he said. “They have seen the costs soar for running a medical practice, while Medicare payment updates have offered too...
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