The organization laid out the three biggest changes:
1. The Senate passed the Medicare Access and CHIP Reauthorization Act in April 2015, which removed the sustainable growth rate formula from the Medicare physician fee schedule conversion factor. The formula was then replaced with a fixed .5 percent annual increase through 2019.
From 2019 to 2025, individual physicians can still achieve payment increases through participation in the merit-based incentive program.
2. The annual increase was then reduced to 0.25 percent by the Balanced Budget Act of 2019.
3. On Nov. 2, CMS released the Medicare physician fee schedule final rule payment for 2022 with a conversion factor of $33.59, a decrease of $1.30 from the 2021 conversion factor of $34.89.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.