2025 Physician Fee Schedule Impact
The Problem
The 2025 Medicare Physician Fee Schedule (PFS) Final Rule published on July 10, 2024, would impose yet another round of significant cuts to office-based interventionalists. Key drivers of these cuts within the 2025 PFS Proposed Rule include:
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Conversion Factor Cut. A carry-over 2.8% cut to the conversion factor from the 2021 PFS E/M policy (which has been phased by Congress since the policy was implemented). When finally phased-in, the 2025 conversion factor is projected to be $32.3433, a cut of more than 10% from the $36.09 conversion factor in 2020.
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Clinical Labor Cuts. The fourth year of clinical labor cuts to office-based interventional relative value units (RVUs) stemming from the phase-in through 2025 of the 2022 PFS clinical labor policy that cuts some interventional codes by another 4% in 2025.
PFS physician payments equal conversion factor * RVUs. As a result, certain office-based interventional services will again be cut by another 6 - 7% in 2024 alone. These year-over-year cuts are being implemented without regard to patient outcomes, actual PFS provider resource needs, or any other rationale policy.
Taking Action
Our Mission
OBFA’s vision is for a Physician Fee Schedule that provides payment stability for office-based specialists and fundamental reform of the so-called "budget-neutrality" provision.
Newsroom
Find the latest news, Congressional letters, policy correspondence, press releases, polling, and other important information.
Join OBFA
OBFA is gearing up for action on multiple fronts. If you think your organization would like to contribute towards this important effort, contact us here so we can learn more about each other.