2024 Medicare Physician Fee Schedule: Impact on Radiologists
The Centers for Medicare & Medicaid Services (CMS) has recently released its proposed rule for the 2024 Medicare Physician Fee Schedule (MPFS), and it brings significant implications for radiologists. In this blog post, we will explore how these proposed changes could affect radiology practices.
1. Conversion Factor Reduction:
CMS is proposing a Conversion Factor (CF) of $32.75 for 2024, which represents a $1.14 reduction compared to the CF of $33.89 in 2023. This translates to a substantial 3.34 percent decrease. While many had hoped for stability in the CF, the proposed reduction is a significant concern for radiologists.
Specialty Impact:
- Radiology: A 3 percent decrease
- Interventional radiology: A 4 percent decrease
- Nuclear medicine: A 3 percent decrease
- Radiation oncology: A 2 percent decrease
- Radiation therapy centers: A 2 percent decrease
When adjusted for inflation, Medicare physician payment to radiologists has effectively declined by 26 percent from 2001 to 2023, before factoring in these additional cuts.
3. Calls for Congressional Intervention:
Radiology societies, including the American College of Radiology (ACR) and the American Society for Radiation Oncology (ASTRO), are actively advocating for congressional action to address these reimbursement challenges. There is a growing consensus that Congress must play a pivotal role in ensuring fair and sustainable reimbursement for radiologists.
For more detailed insights into the proposed changes and their potential impact on radiologists, you can refer to this source from the AAPC.
As the healthcare landscape continues to evolve, staying informed and actively participating in discussions surrounding reimbursement is crucial for radiology professionals. We will keep you updated on any developments regarding the 2024 MPFS.
