2023 Medicare Physician Fee Schedule Proposed Rule Released

On July 7, 2023, the CMS released the proposed 2023 Medicare Physician Fee Schedule rule. Under the proposal, on January 1, 2023, physicians will see a decrease to the conversion factor from $34.6062 to $33.0775.

As noted by the American Medical Association, “This rule represents the continuation of a troubling trend. The confluence of conversion factor cuts, statutory cuts on the horizon from sequestration and PAYGO rules, and a 0% payment update that fails to account for significant inflation in practice costs creates long-term financial instability in the Medicare physician payment system.” Although ISASS worked with other medical societies to successfully forestall these cuts last year, it is clear that we need to redouble those efforts “to ensure patient access to Medicare-participating physicians and services is not threatened.” In response to the proposed 2023 rule, ISASS and many other organizations have aligned with the American Medical Association on a set of principles to guide advocacy efforts on Medicare physician payment reform.

The following are some highlights from the proposed rule:

Physician Fee Schedule

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