The Centers for Medicare & Medicaid Services (CMS) has released the 2014 physician fee schedule; find it in the Dec. 10 Federal Register.
Unless congress intervenes there will be a 20.1 percent decrease in the conversion factor. “This does not mean every payment is reduced 20.1 percent. Some fees can go up, while others go down," said Jeri Biedenkopf, R.N., ISMA practice advisor. "That’s because the Relative Value Units (RVUs) are part of the formula in figuring fees. What’s important is that most fees will be reduced unless congress intervenes."
Here is the CMS formula:
- Work expense RVU × GPCI work RVU +
- Practice expense RVU × GPCI PE RVU +
- Malpractice RVU × GPC MP RVU
- Times the Conversion factor (CF)
- Budget neutrality already figured in
Also noteworthy, CMS will begin reimbursing for chronic care management services in 2015. And CMS has extended until the end of January 2014 the period when doctors can change their Medicare participation status.