Watch Out:
Fee Schedule Cuts Medicare Pay By 21.2%
Published on Tue Nov 24, 2009
Silver lining: CMS increases pay for office visit codes. Get ready for another year of nail-biting to find out if your Medicare payments will be slashed. "The update to the physician fee schedule conversion factor is -- 21.2 percent for CY 2010," notes the 2010 Medicare Physician Fee Schedule Final Rule, printed in the Federal Register that will be published on Nov. 25. Traditionally, Congress has stepped in to reverse such dramatic cuts before they take place, but unless that happens this year, you'll face a conversion factor of $28.4061 effective Jan. 1, according to calculations in the Federal Register. Many physician practices expressed angst at such low reimbursement rates, with some indicating that they would opt out of Medicare and contract privately with patients if the cuts take effect. "Physicians have been getting more disgruntled over the past several years with the threat of cuts, and if their reimbursements [...]