Following extensive advocacy by the AMA, the ISMA and other physician organizations, Congress has reduced a planned 4.5% cut in Medicare physician payment for 2023.

The Consolidated Appropriations Act of 2023, passed by Congress on Dec. 23 and signed into law by President Joe Biden on Dec. 29, included an updated physician conversion factor of $33.8872, according to the AMA. The previously finalized conversion factor was $33.0607 and the 2022 conversion factor was $34.6062, the AMA said.

The AMA notified ISMA and other state and national medical societies on Jan. 5 that the Centers for Medicare and Medicaid Services (CMS) had released updated national Medicare physician payment files that incorporate the changes. 

For more information on the Medicare Physician Fee Schedule for 2023, visit the CMS website. The AMA has also posted a video discussion of changes to the 2023 Physician Fee Schedule. 

Read about the originally planned Medicare pay cuts and ISMA’s efforts to forestall them.