The Centers for Medicare & Medicaid Services (CMS) proposed a 3.34% cut to the conversion factor, or base rate, in its Physician Fee Schedule (PFS) for 2024 — which physicians say will further stress their practices and negatively impact how they deliver care.
If finalized, the proposed 3.34% cut will reduce the conversion factor from its current rate of $33.88 to $32.74, effective 1 January.
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