CMS Releases Revised 2021 Physician Fee Schedule Conversion Factor

On January 7 the Centers for Medicare and Medicaid Services (CMS) announced modifications to the calendar year 2021 Medicare Physician Fee Schedule (MPFS) based on the Consolidated Appropriations Act, 2021, signed into law on December 27. Cumulative changes included in the Act result in an increase to the 2021 conversion factor from $32.41 to $34.89. The Act prevents significant Medicare cuts by increasing overall Medicare physician payments by 3.75%. Other major Medicare changes in the law affecting the specialty include delaying the implementation of the inherent complexity code for evaluation and management services (G2211) until calendar year 2024 and a suspension of the two percent Medicare sequestration cut through March 31, 2021.