CMS Releases Medicare Physician Fee Schedule

The Centers for Medicare & Medicaid Services (CMS) has released the new Medicare Physician Fee Schedule updates, which took effect July 1, 2015. This new schedules shows the changes in the payment methodology that were included in recent federal legislation that replaced the long-outdated Sustainable Growth Rate (SGR). That legislation—“Medicare Access and CHIP Reauthorization Act of 2015” or MACRA–created new systems for establishing annual payment rate updates for physicians’ services. MACRA froze physician payment rates through June 30, 2015, and planned to increase rates by 0.5% for services furnished during the last 6 months of calendar year 2015. This half-percent increase is reflected in the newest version of the fee schedule. Fees for services delivered between 2016 and 2019 will increase by 0.5% each year. Then, physician rates will remain at 2019 levels through 2025, but the amounts paid to individual providers will be subject to adjustment. To view the fee schedule updates, click here.  

The AMCNO included an overview of MACRA in the latest issue of the Northern Ohio Physician magazine, which was sent to our members last week and is posted on our website. To view the issue, click here.



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