CMS Releases CY2014 Medicare Physician Fee Schedule Final Rule

November 27, 2013

On November 27, 2013, the Centers for Medicare & Medicaid Services (CMS) finalized updates to payment policies and payment rates for services furnished under the Medicare Physician Fee Schedule (PFS) on or after January 1, 2014. CMS finalized policies that will make a separate payment to physicians for managing select Medicare patients’ care needs beginning in calendar year (CY) 2015.  The rule also finalizes changes to several of the quality reporting initiatives that are associated with PFS payments – the Physician Quality Reporting System (PQRS), as well as changes to the Physician Compare tool on the website. Furthermore, the rule continues the phased-in implementation of the physician value-based payment modifier (Value Modifier), created by the Affordable Care Act, that will affect payments to certain physician groups based on the quality and cost of care they furnish to beneficiaries enrolled in the traditional Medicare fee-for-service program. Finally, the rule addresses changes to a handful of other programs which are listed in the Table of Contents within the rule.

The Medicare Physician Fee Schedule Chart comparing 2014 Final to 2013 Final can be found here.

For more information, please visit the CMS webite here.

Please find the CY2014 Medicare Physician Fee Schedule Final Rule here.