A 10% reduction in reimbursement is looming for physicians unless Congress approves legislation regarding Medicare's sustainable growth rate formula on which payments are based.
The Centers for Medicare and Medicaid Services (CMS) made the announcement last month that the reduction to the conversion factor on the 2008 Medicare Physician Fee Schedule (MPFS) will become effective on July 1.
The 10% percent cut is intended to offset the increase in the work values of evaluation and management services and anesthesia services. The conversion factor was reduced from $37.89 to $34.07 for 2008. The 10% scheduled cut was postponed through June 30, 2008, when President Bush signed the Medicare, Medicaid, and SCHIP Extension Act of 2007 into law.
Additional details are available on the American College of Radiology's Web site.
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