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Physicians pay cuts to take effect!
Several provider groups say the Biden administration needs to reverse a proposed 4.5% pay cut to doctors for next year, noting the agency needs to consider additional financial pressures that practices are facing.
CMS proposed a 2023 conversion factor of $33.08 for each relative unit, which details how a doctor gets paid by Medicare. The conversion factor is a nearly 4.5% decline compared to the 2022 rate of $34.61.
The Medical Group Management Association urged CMS in comments to reach out to Congress and press for a positive update to the Medicare conversion factor.
As of now, the payment reductions “will have a detrimental impact on access to care for Medicare beneficiaries and financial sustainability for medical group practices,” the group’s comments said.
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