Physicians will be hit with a 1.25% reduction in Medicare reimbursements next year under a final rule the Centers for Medicare and Medicaid Services issued Thursday.
The American Medical Association and other doctor groups sharply criticized the proposed rule CMS published in July, which contained the same pay cut, and have taken their case to Congress that Medicare fees for physicians should not be reduced.
Related: AMA pushes Medicare pay hikes bill
“The Medicare physician payment schedule released today is an unfortunate continuation of a two-decade march in making Medicare unsustainable for patients and physicians," AMA President Dr. Jesse Ehrenfeld said in a news release. "This is a recipe for financial instability. Patients and physicians will wonder why such thin gruel is being served."
CMS decreased the conversion factor by 3.4% to $32.74, $1.15 less than this year, drawing criticism from physician organizations including the Medical Group Management Association.
“Despite appeals from MGMA and hundreds of physician organizations, this afternoon CMS finalized a substantial reduction to the 2024 Medicare conversion factor—further increasing the gap between physician practice expenses and reimbursement rates, and dangerously impeding beneficiary access to care,” Anders Gilber, senior vice president of government affairs, said in a news release.
Although the physician fee schedule for calendar 2024 institutes an overall reduction, CMS increased reimbursements for services such as primary and longitudinal care via new add-on payments.
The American Medical Group Association blasted the final rule. “Those who look at the current payment system and believe the reimbursement rate announced today is sufficient are ignoring the fiscal pressures and increased care demands AMGA members are currently facing,” President and CEO Dr. Jerry Penso said in a news release.
