CMS Releases CY24 Medicare Physician Fee Schedule & Quality Payment Program Updates

On July 13, the Centers for Medicare & Medicaid Services (CMS) released the Calendar Year 2024 Medicare Physician Fee Schedule and Quality Payment Program (QPP) updates. Notably, the Fee Schedule decreases the conversion factor, which coupled with reimbursement stagnation for payment updates and congressionally mandated cuts, has created financial instability for physicians across all specialties. 

“While the ACR appreciates CMS’ continued recognition of the value of complex care provided by rheumatologists and other cognitive care specialists by continuing to operationalize the Evaluation and Management (E/M) coding changes, we are gravely concerned that the proposed rule’s physician payment cuts contained in CMS’ conversion factor would add to physicians’ uncertainty about their continued ability to provide the highest quality of care to Medicare patients,” said Douglas White, MD, PhD, president of the ACR. “The ACR will review the rule closely and looks forward to working with the CMS and Congress to mitigate the fee schedule’s impact on physicians who continue to confront workforce shortages, onerous payer utilization management policies and sustained payment cuts.”

The ACR will work with the American Medical Association and partner organizations to advocate for greater transparency, predictability and stability in Medicare reimbursement. We recognize the significant impact that these cuts will have on musculoskeletal ultrasound codes. ACR staff and members will develop an active advocacy strategy to highlight the detrimental impact of these cuts to CMS.

The proposed rule also outlines additional policy proposals, including continuing telehealth provisions that expand Medicare’s coverage and ongoing discussions of additional flexibilities that will be made permanently. In addition, updates to the Merit-Based Incentive Payment System (MIPS) and policies related to the newly created Advancing Rheumatology Patient Care MIPS Value Pathway (MVP) were included in the proposed rule. 

The ACR also said the proposed rule’s impact on physicians is evidence why Congress should pass the Strengthening Medicare for Patients and Providers Act (H.R. 2474), a bipartisan bill intended to update Medicare physician payments to reflect the impact of the broader economy on physician practices.

The ACR looks forward to providing a more detailed summary of the 2024 proposed rule in the coming weeks. Submit any questions to the ACR’s advocacy team at [email protected].