The 2024 Medicare Physician Fee Schedule final rule included a decrease in the conversion factor, which is used to calculate Medicare payments to doctors, which translated to a 3.37% pay decrease from 2023. The Centers for Medicare and Medicaid Services said the cut was necessary to offset increases in payment for other specific types of services, including visits for primary and longitudinal care visits.
According to a recent article from Healthcare Finance News, the American Medical Association (AMA) has called on Congress to cancel the scheduled 3.37% Medicare physician pay cut that is set to take effect on January 1, 2024. The AMA has expressed strong support for the Preserving Seniors’ Access to Physicians Act of 2023, a bipartisan bill that would completely eliminate the pay cut 1. The bill was referred to the Committee on Energy and Commerce and to the Committee on Ways and Means but did not pass before legislators recessed for 2023. However, the AMA has stated that Congress will consider a package of healthcare bills when it returns as part of a federal appropriations package in mid-January to fund the government in fiscal year 2024. A bill did pass the Senate Finance and the House Energy and Commerce Committees that would provide partial relief of 1.25% from the Medicare cuts
House bill introduced to cancel 2024’s physician pay cut
AMA’s New Year’s resolution for Congress: Cancel the Medicare pay cut | Healthcare Finance News
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