Medicare Payment Cuts Will Cut Patient Care, Physicians Say

A proposed cut to the formula for establishing Medicare reimbursement rates has some physicians concerned it will impact their ability to deliver the best care to their patients.

PERCENTAGE CUT
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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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