CMS Settles on Physician Fee Schedule Conversion Factor Cut of $1.55

CMS has released the Calendar Year (CY) 2023 Physician Fee Schedule (PFS) final rule, which will reduce the conversion factor while expanding access to behavioral health and other benefits.

The federal agency announced earlier today that the final CY 2023 PFS conversion factor is $33.06, a decrease of $1.55 to the CY 2022 PFS conversion factor of $34.61. The final conversion factor is slightly higher than the one proposed in a July 2022 rule, which had a $1.53 decrease.

Source: https://revcycleintelligence.com/news/cms-settles-on-physician-fee-schedule-conversion-factor-cut-of-1.55