The Centers for Medicare and Medicaid Services has alerted the American Medical Association that the agency has released updated national Medicare physician payment files that incorporate the changes in the Consolidated Appropriations Act of 2023.
Specifically, in response to concerted advocacy by organized medicine, Congress reduced the 4.5% cut to Medicare physician payment by increasing the 2023 conversion factor by 2.5%. The updated 2023 Medicare physician payment schedule conversion factor will be $33.8872. The previously finalized conversion factor was $33.0607. The 2022 conversion factor was $34.6062.