The Centers for Medicare & Medicaid Services (CMS) announced it is finalizing policies to support primary care, advance health equity, assist family caregivers and expand access to behavioral and certain oral healthcare. These policies are included in the calendar year (CY) 2024 Medicare Physician Fee Schedule (PFS) final rule, which also provides payment for principal illness navigation services to help patients and their families navigate cancer treatment and treatment for other serious illnesses, supporting the Cancer Moonshot mission to accelerate the fight against cancer.
The CY 2024 PFS final rule includes updates to PFS payments for clinicians as required by law. In accordance with update factors specified by law, finalized payment amounts under the PFS will be reduced by 1.25% overall compared to CY 2023. CMS is also finalizing increases in payment for visits for many services, such as primary and longitudinal care. Overall, the finalized CY 2024 PFS conversion factor is $32.74, a decrease of $1.15, or 3.4%, from CY 2023.