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Physicians Scoff at Proposed 4.4% Medicare Payment Cut for 2023

July 7, 2022, 11:07 PM

Medicare payments to vascular surgeons, radiologists, clinical psychologists, and numerous other medical specialty providers would take a hit in 2023 after the Biden administration proposed a 4.4% cut in their reimbursements

In the proposed 2023 Medicare Physician Fee Schedule released Thursday, (RIN: 0938-AU81), the multiplier—or “conversion factor” used to determine provider reimbursement in traditional Medicare— would drop to $33.08, down $1.53, or 4.42% from $34.61 in 2022.

This proposed cut reflects “the statutorily required update to the conversion factor for CY 2023 of 0%, the expiration of the 3% increase in PFS payments for CY 2022 as required by the ...