CMS Releases Medicare 2024 Professional Fee Schedule Proposed Rule

July 20, 2023

The Centers for Medicare & Medicaid Services (CMS) July 13 released its calendar year 2024 proposed rule for the Medicare physician fee schedule. The proposed rule would reduce the conversion factor by 3.34%, to $32.75 in calendar year 2024, down from $33.89 in CY 2023. The reduction to the conversion factor is the result of the expiration of the 2.5% payment increase for CY 2023 authorized by Congress replaced by a 1.25% payment increase for 2024 and a -2.17% budget-neutrality adjustment due to prior changes to relative value units among services.

CMS proposes to again delay implementation of its policy that would have reduced payment for evaluation and management services if a non-physician practitioner performed and billed at least half of an evaluation and management visit. CMS will accept comments on the proposed rule through Sept. 11. (Andrew Busz,


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