tci Medicare Compliance & Reimbursement - 2024 Issue Q2

Feds Finalize 2024 Funding

Tip: Understand these conversion factor changes already in effect. The feds finalized not one but two funding packages in March — and both offer Medicare providers some relief. First: On March 9, President Biden signed the Consolidated Appropriations Act, 2024 into law. The legislation included an update to the calendar year (CY) 2024 Medicare Physician Fee Schedule conversion factor. The new update changed the existing cut with a 2.93 percent update, replacing a 1.25 percent update. Here is the breakdown of the CF based on the new update and a budget neutrality adjustment, according to the Centers...

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