Much attention was focused this week on Medicare physician payment adequacy. The challenges of rising physician practice costs due to inflation and other factors caused the American Medical Association joined by numerous national medical societies -- as well as diagnostic imaging industry leaders -- to make separate appeals to Congress and the Centers for Medicare and Medicaid Services (CMS) for Medicare physician fee schedule (MPFS) payment increases in 2024. Also, the Medicare Payment Advisory Commission (MedPAC) recommended in its March 2023 report to Congress that there be an increase in the 2024 Medicare physician payment rate above current law with an inflation-based payment update tied to the MEI.
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Spotlight on need to increase Medicare physician payments next year
For calendar year 2024, the Congress should update the 2023 Medicare base payment rate for physician and other health professional services by 50 percent of the projected increase in the Medicare Economic Index.