July 13, 2023: MGMA statement on proposed 2024 Medicare Physician Fee Schedule

FOR IMMEDIATE RELEASE:
July 13, 2023

Media Contact:
Emily Dowsett
Associate Director, Public Affairs
edowsett@mgma.com

MGMA statement on proposed 2024 Medicare Physician Fee Schedule
Anders Gilberg
Senior Vice President, Government Affairs
Medical Group Management Association

“The proposed 2024 Medicare Physician Fee Schedule (PFS) raises significant concerns for medical groups related to its 3.4% reduction to the conversion factor, which further increases the gap between physician practice expenses and Medicare reimbursement rates. Medicare already largely fails to cover the cost of furnishing care to beneficiaries, and the proposed cut to the 2024 conversion factor compounds the problem. Implementation of a new add-on code (G2211) for complex patients highlights CMS’ flawed approach to addressing inadequate Medicare payments for primary care services using a budget neutral methodology. Congress must reexamine existing law to provide an annual physician payment update commensurate with inflation and do away with Medicare’s ‘robbing Peter to pay Paul’ budget neutrality requirements to provide much-needed financial stability for medical practices.”

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