CMS has released their final calendar year (CY) 2022 Medicare Physician Fee Schedule on November 2, 2021. Important takeaways include:
· The proposed conversion factor will be $33.59, which is a decrease of $1.30 compared to the 2021 conversion factor. The 3.75% payment increase that was provided through the Consolidated Appropriations Act of 2021 will be expiring in the new year.
· They outlined an extension to Medicare telehealth services that had been temporarily added to the list through 2023. This will help decide if the services should be permanently implemented.
· The Medicare reimbursement rate for administration of certain vaccines such as influenza, pneumococcal, and hepatitis B will pay $30 per dose while the COVID-19 vaccine will pay $40 per dose.
· Additional payment cuts have been issued for physicians due to the American Rescue Plan set to end in 2021.
· Policies have been set to expand the use of telehealth for mental health services.
Refer to the link above to review all of the changes in the fee schedule; also note that the rules have been filed on the Federal Register, but they are not yet published. The proposed publication date is November 19, 2021.
Outsource Receivables Inc. will continue to monitor these developments in the healthcare industry and any other changes that may come about if legislators choose to expand any acts that affected the physician payment factors.