2024 Physician Fee Schedule (PFS) Proposed Rule and What You Can Do About It

The Centers for Medicaid and Medicare Services (CMS) issued the 2024 Physician Fee Schedule (PFS) proposed rule on July 13, 2023. It includes a 3.34% cut to the conversion factor — yet another cut to physical therapy reimbursements. The current conversion factor is already lower than in 1994, when the U.S. dollar held 52% more value (before decades of inflation).  

CMS is accepting public comments on proposed policy changes until September 11, 2023.

In this episode, Chad speaks with Mary Daulong, President and CEO of BCMS, to get a better understanding of what’s in the 2024 Physician Fee Schedule Proposed Rule and what practice owners can do to maintain profitability in a challenging environment. 

Tune in for expert insights into the proposed policy changes.

Discover how and where to submit comments about the Proposed Rule.

Plus, get practical steps you can take to navigate Medicare Cuts.

SHOW LINKS

Pro Forma Tool: https://docs.google.com/spreadsheets/d/1Jhc6XvxAjpeRppJarAjQJg2xQm1VaRc_b9RRP7Bemao/edit?usp=sharing

Learn more about BCMS: https://bcmscomp.com/

Learn more about Chad's 13-Week Masterclass, Profitability Under Pressure: https://bit.ly/3Ob8XG6

APTA Comment Submission Tool: https://forms.office.com/pages/responsepage.aspx?id=-5nntbXE30GOAXjm3Qtnr20gDj1nRa9KiEyVWiRXCKlUMDE0RllYVUU4RElMVDc2SUhRVk1IT1A3RS4u

Submit comments here: https://regulations.gov/

Patient Action Center: https://www.apta.org/advocacy/take-action/patient-action-center

Regulatory Action Center: https://www.apta.org/advocacy/take-action/regulatory

For more information on these and other legislation, go to:

Your Voice Matters: https://www.apta.org/advocacy/take-action

Policy Principles for Outpatient Therapy Reform: https://www.apta.org/siteassets/advocacy/2023/policy_principles_therapy_reform_under_mpfs_june2023.pdf

Supervision Regulations by State: https://www.fsbpt.org/Portals/0/documents/free-resources/JLRG_SupervisionRequirements_201006.pdf