Last week, behind closed-door negotiations, leadership agreed to a slim-down healthcare minibus spending package. Details of this package as they relate to the Medicare physician fee schedule (PFS) were released on Sunday. We believe that the House will vote this Wednesday with the Senate voting on Thursday. The hope is that the new conversion factor (CF) will be effective March 9, which will immediately impact physician reimbursement going forward, avoiding the need for a continuing resolution. 

According to our understanding of the deal, lawmakers have reached an agreement that amounts to a modest improvement of 1.68%. Although this is not a complete reversal, it is a starting place for future discussions addressing Medicare's lack of inflationary updates. 

If the new CF rate is enacted for claims effective as of March 9, 2024, we believe the overall impact for physicians is approximately a 2.00% reduction for the entire calendar year. 

This final cut (approximately 2.00% for 2024's Medicare PFS) will have a significant impact on our healthcare system. While we are not satisfied that we were unable to reverse the entire cut, every little bit helps and fuels our desire for a permanent fix in 2024. Our advocacy team will continue to monitor and advocate for all legislation that supports physicians, their practices, and patients' access to care. 

Thank you to all who took action on this issue. Every action taken moves us one step closer to our shared goals.