CMS released its annual proposed changes to the physician fee schedule for 2024 on July 13.
Here are five things physicians should know:
- The proposed physician fee schedule conversion factor for 2024 is $32.75, a 3.34 percent decrease from the $33.89 conversion factor in 2023.
- CMS proposed a separate add-on payment for healthcare common procedure coding system code G2211 beginning Jan. 1.
- CMS is proposing coding and payment for several new services aimed at serving underserved patients and populations.
- CMS is also proposing a 3 percent inflation update factor for hospital outpatient departments and ambulatory surgery centers in 2024.
- The proposed rule includes a 60-day public comment period, which closes Sept. 11.
Read more on the proposed rule here.