Physicians Will See Medicare Payment Cuts Next Year

What’s happening: The Centers for Medicare & Medicaid Services’ (CMS) 2024 physician fee schedule final rule reduces Medicare payments to physicians by 1.23% compared to the prior year.  

What else to know: The final 2024 physician fee schedule conversion factor is $32.74, a decrease of $1.15, or 3.4%, from 2023.   

CMS Finalizes Inadequate Outpatient Payment Update

What’s happening: The Centers for Medicare & Medicaid Services (CMS) has finalized the calendar year (CY) 2024 outpatient prospective payment system rule.  

What else to know: It includes a net market basket update of 3.1%, which is a slight increase over the proposed 2.8%.  

Certain 340B Hospitals to Receive Lump-Sum Settlement

What’s happening: A final rule from the Centers for Medicare & Medicaid Services (CMS) contains a remedy for the agency’s 340B-acquired drug payment policy that was in effect from 2018 to 2022. 

What else to know: Eligible hospitals will receive a lump-sum settlement for claims, including beneficiary cost sharing, as a result of CMS’ invalidated policy that reduced payments for separately payable outpatient drugs acquired under the 340B program.  

CHA: Nursing Home Staffing Proposal is Too Rigid

What’s happening: CHA commented on the Centers for Medicare & Medicaid Services’ proposed staffing requirements for long-term care facilities.  

What else to know: CHA supports the establishment of standards, but specific thresholds don’t allow flexibility for facilities to establish a staffing mix best suited for their patients.

Changes Proposed for Independent Dispute Resolution Process

What’s happening: A proposed rule from the departments of Health and Human Services, Labor, and Treasury aims to improve the No Surprises Act (NSA) independent dispute resolution (IDR) process.  

What else to know: Comments on the proposal, which is in response to court rulings that held key provisions of the interim final rules establishing the IDR process impermissible under the NSA, are due Jan. 2.