by John Yodonise

March 23, 2024

medicare payment cuts 2024 graphic

Congress has passed and President Biden has signed the Consolidated Appropriations Act of 2024 (H.R. 4366) that will reduce the Medicare Part B cuts from 3.4% to 1.7% for the remainder of 2024. The new fee schedule will be in effect for dates of service March 9, 2024 to December 31, 2024. You can get more information about the revised fee schedule on the CMS website.

The Act included a 2.93% update to the 2024 Physician Fee Schedule Conversion Factor that replaced the 1.25% update for dates of service January 1, 2024 through March 8, 2024, This was the fourth straight year for a conversion factor decrease and does not include the additional sequestration cut that reduces Medicare payments by an additional 2%.

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