CMS Releases Updated 2022 Medicare Physician Fee Schedule

On December 21, 2021, CMS published an update for the 2022 calendar year (CY) Medicare Physician Fee Schedule (PFS) conversion factor and payment rates that reflects the passage of the Protecting Medicare & American Farmers from Sequester Cuts Act, which avoided a 4% statutory cut from the PAYGO provisions, extended the moratorium on the 2% Medicare payment sequester, and mitigated the 3.75% Medicare physician payment cut.

The final conversion factor for 2022 is $34.606 compared to the November 2, 2021, published conversion factor of $33.5983, which included the expiration of the 3.75% increase for services furnished in 2021, the 0.00% update adjustment factor specified under section 1848(d)(19) of the Act, and a budget neutrality adjustment of –0.10%.

The updated conversion factors were included in newly updated spreadsheets on cms.gov (find the PFS one here: https://www.cms.gov/Medicare/Medicare-Fee-for-Service-Payment/PhysicianFeeSched/PFS-Relative-Value-Files).

To read more information on the final rule, see the following links:

• CY 2022 Physician Fee Schedule Final Rule