Medicare payment cut for physicians reduced effective March 9
Congress and President Biden enacted a spending package that eased but did not eliminate the 2024 cut in the Medicare conversion factor, which is the amount Medicare pays per relative value unit. The legislation offset 1.72 percentage points, or just over half of the 3.4% cut which the Centers for Medicare & Medicaid Services (CMS) implemented with dates of service on or after Jan. 1, 2024.
The reduction in the cut applies to services furnished between March 9, 2024, and Dec. 31, 2024. No word yet on how CMS and its contractors will implement the change.
— Kent Moore, AAFP Senior Manager, Payment Strategies
Posted on March 15, 2024
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