Medicare Schedules Cut to 2023 Physician Payments
On July 7, the Centers for Medicare and Medicaid Services (CMS) published the calendar year (CY) 2023 Medicare Physician Fee Schedule (MPFS) proposed rule. If finalized without Congressional action, this rule would implement a 4.42% cut to the MPFS conversion factor for next year. On top of that, an additional 4.0 cut is looming due to a statutorily-required budgetary mechanism that would apply a sequester to Medicare payments. This could be implemented as early as this December.
While CMS did not propose any changes to their 10- and 90-day global surgery payment policy, CMS continued to express concern about the valuation of these services and solicited feedback on approaches it might take to reconsider the concept of global codes or the agency’s approach to valuing them.
In addition to the across-the-board cut that this implements, CMS also proposes modifications to the reporting requirements under the Quality Payment Program (QPP). These changes include alterations to the reporting requirements under the Merit-based Incentive Payment System (MIPS) for 2023.