Following our update last week regarding updates to billing due to the passing of the Consolidated Appropriations Act (CAA) we wanted to inform our readers about changes to the calendar year (CY) 2021 Medicare Physician Fee Schedule (MPFS).
There are four primary changes to the MPFS stemming from the CAA. The CAA provided a 3.75% increase in MPFS payments for CY 2021, suspension of the 2% payment adjustment (sequestration) through March 31, 2021, reinstated the 1.0 floor on the work Geographic Practice Cost Index through CY 2023, and delayed implementation of the inherent complexity add-on code for evaluation and management services (G2211) until CY 2024.
With these changes CMS has recalculated the MPFS conversion factor to reflect these changes. The revised conversion factor for CY 22021 is 34.8931.
Contact us with any questions about the rate changes and the effects on your bottom line.