Physicians to see bump in reimbursement payments from Medicare
And now, time for a little good news. All physicians billing to Medicare are receiving a 0.5% increase in the conversion factor used to determine reimbursement payments, starting July 1.
The scheduled increase was included in the Medicare Access and CHIP Reauthorization Act of 2015, which acted as a “permanent doc fix” and replaced SGR when it was signed into law in April.
Similar 0.5% bumps are expected annually through 2019, and then there will be no updates from 2020 to 2025.
The updated conversion factor is $35.9335 or ($35.7547*1.005) without any other adjustments, according to the ACR.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.