The proposed CY 2022 Medicare physician fee schedule final rule, released Nov. 2, reduces the 2022 Medicare conversion factor by approximately 3.85%, from 34.8931 (2021) to 33.5983, the AMA informed ISMA and other state medical societies. 

“This is largely a result of the expiration of a 3.75% increase to the conversion factor at the end of calendar year 2021, as averted in 2021 by Congressional action,” the AMA noted. “The AMA continues to strongly advocate for Congress to avert this significant cut and extend the 3.75% increase for 2022, as it further compounds the growing financial instability of physician practices due to the severe reduction in revenue caused by the continued COVID-19 PHE.” 

According to the AMA’s email, the Centers for Medicare and Medicaid Services (CMS) also plans to:

• Finalize provisions that extend coverage of services added to the Medicare telehealth list on an interim basis in response to the COVID-19 PHE until the end of 2023 and eliminate geographic barriers by allowing patients to access telehealth services for diagnosis, evaluation and treatment of mental health disorders from home.
• Permanently increase payment for administration of immunizations beyond COVID vaccines.
• Proceed with the first round of seven MIPS Value Pathways that will be available starting with the 2023 performance year.

The AMA is preparing its own comprehensive summary of the proposed rule, which ISMA will share with members once it becomes available.

Read the CMS news release.