As you are aware, providers have been calling for Congress to address the nearly 4.5% in cuts imposed by the 2023 Medicare Physician Fee Schedule Final Rule. Separately, Congress has been asked to confront the Statutory PAYGO sequestration that would cut approximately 4% from 2023 Medicare payments.
Lawmakers have just released their year-end spending package that still requires approval from both chambers and is expected to pass by Friday. While the pay cuts have not been removed entirely with this plan, Congress has offered to preclude the PAYGO sequestration for another year and to reduce the expected fee schedule cuts by about half, over the next two years. Physicians are now looking at an average 2% cut in 2023 and another 3.5% decrease in 2024.
Please reach out to EMB with further questions. We will continue to monitor this matter as it is finalized by Congress. Thank you, and happy holidays.