As you may have heard, federal legislation taking effect March 9, 2024 for the rest of 2024 included an update to the Medicare Conversion Factor (CF), which will affect reimbursement for Part B services including services provided by psychologists. I previously reported “final” fees that went into effect January 1, based on the CF reported …
Relative Value Units (RVUs) became available 12/12/2023 which, along with the 2024 Conversion Factor (CF), allows calculation of the 2024 National Payment Amount (NPA) for all health care procedures reimbursed in Medicare. Here are the NPAs for the top ten services provided by psychologists, with a comparison to 2020-2023. Four services show increases from 2023-2024. …
2 November 2023: The final 2024 Medicare Physician Fee Schedule (PFS) was announced by CMS today, with the final rule to be published in the Federal Register 11/16/23. The final 2024 Conversion Factor (CF) was set at $32.74, a decrease of $1.15 (-3.4%) from the 2023 CF of $33.89. (The proposed rule CF reported in …
Continue reading ‘2024 Medicare Reimbursement For Psychological Services’ »
Note: Red = 2 year moving average trendline. Source: https://www.cms.gov/medicare/medicare-fee-service-payment/physicianfeesched/pfs-federal-regulation-notices/cms-1784-p
