CMS has released the 2023 Medicare Physician Fee Schedule.

  • The fees reflect reductions of between 2.9 and 4.5%
  • This is due to a 4.5% decrease in the conversion factor, which accounts for budget neutrality requirements required by federal law.
  • In addition, the 3% supplemental increase to physician payments passed by Congress for 2022 expires.
  • Unfortunately, another 4% reduction – a result of COVID relief passed in 2021 – could come January 1st, absent Congressional action.