Physician Fee Schedule
Guidance for proposed rule updates payment policies, payment rates, and other provisions for services furnished under the Medicare Physician Fee Schedule (PFS).
Issued by: Centers for Medicare & Medicaid Services (CMS)
Issue Date: August 04, 2020
On March 9, 2024, President Biden signed the Consolidated Appropriations Act, 2024, which included a 2.93 percent update to the CY 2024 Physician Fee Schedule (PFS) Conversion Factor (CF) for dates of service March 9 through December 31, 2024. This replaces the 1.25 percent update provided by the Consolidated Appropriations Act, 2023, therefore the CY 2024 CF for dates of service January 1 through March 8, 2024 is $32.74. CMS has implemented the new legislation by adjusting the CY 2023 CF of $33.07 by 2.93 percent and the budget neutrality adjustment for a CY 2024 CF of $33.29 for dates of service March 9 through December 31. CMS is also releasing updated payment files, including the MPFS and associated abstract files, the Ambulatory Surgical Center (ASC) FS, and Anesthesia file.
Physician Fee Schedule: CY 2025 Final Rule – Learn What's New
CMS issued the CY 2025 Physician Fee Schedule (PFS) final rule to update Medicare PFS.
See a summary of provisions effective January 1, 2025.
The PFS is the primary method of payment for enrolled health care providers. Medicare uses the PFS when paying:
- Professional services of physicians and other health care providers in private practice
- Services covered incident to physicians’ services (other than certain drugs covered as incident to services)
- Diagnostic tests (other than clinical laboratory tests)
- Radiology services
Care Management
For a one-stop resource focused on new Care Management services under the Physician Fee Schedule, such as chronic care management and transitional care management services, visit the Care Management webpage.
Physician Center
For a one-stop resource focused on Medicare Fee-for-Service (FFS) physicians, visit the Physician Center webpage.
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DISCLAIMER: The contents of this database lack the force and effect of law, except as authorized by law (including Medicare Advantage Rate Announcements and Advance Notices) or as specifically incorporated into a contract. The Department may not cite, use, or rely on any guidance that is not posted on the guidance repository, except to establish historical facts.