Part B News | Editors' Blog

CMS posts new +2.4% conversion factor for 2023 Medicare fees

by: Richard Scott Jan 9, 2023

On the heels of the omnibus spending bill that President Biden signed into law Dec. 29, CMS has posted a revised conversion factor of $33.8872, replacing the $33.0607 amount originally released with the final 2023 Medicare physician fee schedule.

Near-final version of budget bill dents Medicare cuts, extends telehealth flex

by: Roy Edroso Dec 20, 2022

In what looks to be the last iteration of Congress’ year-end appropriations bill for 2023, the daunting 4.5% conversion factor cut to Medicare providers’ reimbursement has been slightly eased with a 2.5% increase to 2023 rates and a 1.25% increase to 2024 rates – trimming but not totally erasing the drop to about 2% for CY 2023.

Breaking: CMS finalizes 4.5% rate cut in ’23, confirms E/M trajectory in Medicare PFS

by: DecisionHealth Staff Nov 1, 2022

Start your look-ahead to CY 2023: Payment cuts are coming, significant changes to E/M services are finalized and key reporting revisions are hitting telehealth and audio-only services, according to the final 2023 Medicare physician fee schedule released today.

Proposed payment cuts that drew vocal criticism from physician advocacy groups will move forward as planned, as CMS announced a 4.5% reduction to the CY 2023 Medicare Part B conversion factor (CF), effective Jan. 1.

Breaking: Proposed PFS chops fees 4%, approves E/M remake, previews code changes

by: DecisionHealth Staff Jul 7, 2022

Payment cuts are in the offing for Part B providers in 2023, along with a series of other projected changes targeting E/M services, COVID-related billing flexibilities and value-based care, according to the proposed 2023 Medicare physician fee schedule released today.

After legislative reprieve buoyed fees in 2022, CMS again is taking a hack at its primary rate-setting mechanism. The proposed 2023 conversion factor is $33.08, down $1.53, or 4.4%, from the current-year conversion factor of $34.61, according to the 2,066-page proposed rule.

CY2022 Medicare PFS cuts conversion factor, revamps billing policies

by: DecisionHealth Staff Nov 2, 2021

The final 2022 Medicare physician fee schedule is out, and the terms are in: Medical practices will confront key updates to split/shared services, critical care episodes and billing privileges, as well as a cut to the conversion factor that trims it nearly 4%.

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