2022 Physician Fee Schedule Impact
Proposed Changes in Medicare Payments
The 2022 Medicare Physician Fee Schedule (PFS) final rule issued on November 2, 2021 cuts a broad array of office-based specialists as a result of so-called “budget-neutral” effects of the CMS policy to update clinical labor data in the PFS. These cuts will continue to accelerate the health system consolidation trend and exacerbate health inequities in a variety of diseases.
The table below describes all specialties cut more than 5% in the 2021 PFS Final Rule. It is important to note that the impact table below taken from the 2022 PFS Final Rule does not disaggregate specialty impact by site-of-service and, as a result, masks the true (even worse) impact to the office-based setting.
As a result of the Consolidated Appropriations Act of 2021, these cuts also include the 3.75% cut to the PFS conversion factor effect from the 2021 PFS Final Rule, which was delayed until 2022. Pursuant to the CAA, a third conversion factor cut of a similar magnitude is slated for January 1, 2024.
USPA’s vision is for a Physician Fee Schedule that provides payment stability for office-based specialists and fundamental reform of the so-called "budget-neutrality" provision.
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