Support our online development, and advance our onground research initiatives in free market economics, as we seek to showcase the brightest Next-Gen minds.
THE ME-P DISCLAIMER: Posts, comments and opinions do not necessarily represent iMBA, Inc., but become our property after submission. Copyright © 2006 to-date. iMBA, Inc allows colleges, universities, medical and financial professionals and related clinics, hospitals and non-profit healthcare organizations to distribute our proprietary essays, photos, videos, audios and other documents; etc. However, please review copyright and usage information for each individual asset before submission to us, and/or placement on your publication or web site. Attestation references, citations and/or back-links are required. All other assets are property of the individual copyright holder.
Medicare Physician Fee Schedule
By Health Capital Consultants
***
***
DEFINITION: The Centers for Medicare and Medicaid Services (CMS) uses the Medicare Physician Fee Schedule (MPFS) to reimburse physician services. The MPFS is funded by Part B and is composed of resource costs associated with physician work, practice expense and professional liability insurance.
Under the MPFS, each of these three elements is assigned a Relative Value Unit (RVU) for each Current Procedural Terminology (CPT®) code. These RVUs are then adjusted based on the Geographical Practice Cost Index associated with various geographic areas for different medical costs and wage differentials. The conversion factor is the national dollar amount that is multiplied by the total geographically adjusted RVU to determine the Medicare-allowed payment amount for a particular physician service.
CITE: https://www.r2library.com/Resource
***
MPFS Final Rule Cuts Physician Payments
On November 2nd, 2023, the Centers for Medicare & Medicaid Services (CMS) released its finalized Medicare Physician Fee Schedule (MPFS) for calendar year (CY) 2024. While the finalized fee schedule cuts payments to physicians, there are a number of other (more positive) provisions in the final rule.
This Health Capital Topics article explores the various changes and updates included in the MPFS final rule. (Read more…)
COMMENTS APPRECIATED
Thank You
***
***
Share this:
Filed under: "Doctors Only", Career Development, Experts Invited, Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Op-Editorials | Tagged: Centers for Medicare & Medicaid Services, CMS, CPT, current procedural terminology, CY, Geographical Practice Cost Index, Health Capital Consultants, Health Capital Topics, Medicare Physician Fee Schedule, MPFS, relative value units, RVU | Leave a comment »
The Leading Business Education Network for Doctors, Financial Advisors and Health Industry Consultants 