"Despite this outsized value, CMS has cut radiation oncology physician fee schedule payments by over 20% in the last decade – more than nearly all other physician specialties. "Medicare spends less on all radiation therapy services than it does on just three top cancer drugs, although radiation is utilized by twice as many beneficiaries," she added. 1191 of the proposed rule for more details.) Those two percentages - a 2.17% decrease partially offset by a 1.25% increase - would normally be considered a 0.92% decrease in physician pay, but the percentages were calculated based on the original conversion factor for 2023 - $33.06 - which was then increased to $33.88 by the raise from the CAA comparing that number to this year's $32.74 number results in the nearly 3.4% cut.
The 2024 conversion factor of $32.74 includes both a 2.17% decrease required for budget neutrality reasons and a 1.25% increase that was included in last year's Consolidated Appropriations Act (CAA) the CAA also increased the 2023 conversion factor. The conversion factor is the multiplier that Medicare applies to relative value units (RVUs) to calculate reimbursement for a particular service or procedure under Medicare's fee-for-service system. we are gravely concerned that the proposed rule's physician payment cuts contained in CMS' conversion factor would add to physicians' uncertainty about their continued ability to provide the highest quality of care to Medicare patients," ACR president Douglas White, MD, PhD, said in a statement. "While the ACR appreciates CMS' continued recognition of the value of complex care provided by rheumatologists and other cognitive care specialists.
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