On November 2, the Centers for Medicare & Medicaid Services (CMS) released its calendar year 2024 final rule for the physician fee schedule. The rule will cut the conversion factor by 3.4%, to $32.74 in the calendar year (CY) 2024, as compared to $33.89 in CY 2023. This reflects the expiration of the 2.5% statutory payment increase for CY 2023; a 1.25% statutory payment increase for 2024; a 0.00% conversion factor update under the Medicare Access and Children’s Health Insurance Program Reauthorization Act; and a budget-neutrality adjustment. CMS finalized a revised definition of the substantive portion of a split (or shared) visit. Specifically, for CY 2024, for purposes of Medicare billing, the definition of “substantive portion” means more than half of the total time spent by the physician and non-physician practitioner performing the split (or shared) visit or a substantive part of the medical decision-making. For the Quality Payment Program, CMS finalized the creation of five new, optional Merit-based Incentive Payment System Value Pathways for reporting beginning in 2024. CMS also finalized its proposal to increase the performance threshold score that MIPS participants must achieve to earn positive payment adjustments, but it will not increase the quality data completeness threshold as originally proposed. Finally, for the Advanced Alternative Payment Model track of the QPP, CMS will offer Advanced APM Incentive Payments in CY 2025 to those qualifying clinicians. This one-year extension of Advanced APM bonus payments at a reduced rate of 3.5% was required by the Consolidated Appropriations Act (CAA). The agency also finalized its proposal to withdraw all regulations related to the Appropriate Use Criteria program, citing patient access and financial liability risks. The AHA [PT2] supports CMS's decision to pause the program for reevaluation.
Some of the major provisions include:
Telehealth Provisions and Inflation Reduction Act Implementation
0 Comments
Your comment will be posted after it is approved.
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
February 2025
Categories |
Copyright © 2025 North American Neuromodulation Society. All Rights Reserved.
Contact Us | Privacy Policy | Refund Policy | Sitemap | Sign Up for Email |
__________________________________
111 North Wabash Avenue Suite 100-3653 Chicago, IL 60602 __________________________________
Phone: (773) 648-7845 Fax: (773) 648-7847 |