Stop Medicare Physician Pay Cuts in 2024

Medicare physician reimbursement was cut by 3.34% on January 1 of this year; on Friday, March 8, Congress took action to mitigate this cut and increased the conversion factor by 1.68% prospectively. For the remainder of the year, reimbursement for physician services will be 1.69% below the 2023 level.

While ASH had advocated for Congress to eliminate the cut, the mitigation policy adopted by Congress is a positive development, particularly in this fiscal environment where Congress is looking to cut costs. However, Congress did nothing to prevent future cuts; we already know that the conversion factor will be cut again on January 1, 2025 when the funds used to increase the conversion factor expire. ASH members must let their members of Congress know that it is time to break this cycle of cuts and enact reforms to the Medicare Physician Fee Schedule.

Please act now by thanking Congress for the conversion factor increase and reminding them that the job is not done!