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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.
 
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%.
 
 
The payment cuts that are on track to hit physician practices Jan. 1 could have sweeping implications for the health care industry. Compensation levels for physicians, a potential hiring freeze and staff layoffs and population health initiatives are all factors at stake, a new survey from AMGA reveals.
 
 
In a sprawling Part B fee schedule released today, CMS proposed a 4% decrease to the Medicare conversion factor, revised policies for numerous E/M services, physician assistant billing freedoms and a loosening of telehealth coverage policies.
 
You can’t take short cuts when you recalculate revenue projections: In addition to the conversion factor upgrade, CMS has tweaked literally thousands of RVUs.

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