The 2024 Medicare Physician Fee Schedule (MPFS) Final Rule, released by the Centers for Medicare & Medicaid Services (CMS), provides for a 3.4% decrease in physician reimbursement for 2024, which went into effect on January 1, 2024. Healthcare organizations and professional societies have been urging Congress to address this significant cut for over a year.
At the end of 2023, it was believed that Congress would act on the MPFS reduction before January 19, 2024, which was the government funding deadline. However, that deadline has passed with no resolution. There will likely not be another opportunity for Congress to address the 3.4% reduction to the MPFS until February or March of 2024.
However, there are several viable legislative vehicles still in play in Congress that address these cuts. The Better Mental Health Care, Lower-Cost Drugs, and Extenders Act (S. 3430), the Physician Fee Schedule Update and Improvements Act (H.R. 6545), and the Preserving Seniors’ Access to Physicians Act (H.R. 6683), all work to increase the MPFS conversion factor or eliminate the 3.4% cut altogether.
The 3.4% MPFS reduction impacts all clinicians participating in Medicare. To preserve Medicare patients’ access to quality care, this issue must be addressed NOW and corrected in the future.