The Centers for Medicare and Medicaid Services recently reduced its Conversion Factor by 2.1% for 2023.
Does your organization understand how this may affect wRVU productivity in different specialties and settings – including hospital inpatient and observation, emergency services and skilled nursing facilities?
The Centers for Medicare & Medicaid Services (CMS) released their Final Rule for the 2023 Physician Fee Schedule (PFS) in the Federal Register on November 18, 2022, and an updated 2023 Medicare conversion factor on January 5, 2023.
The final rule includes revised evaluation and management (E&M) coding guidelines that are intended to reduce administrative burden, primarily in inpatient settings and skilled nursing facilities.
These changes will further impact E&M CPT code documentation requirements, wRVU values, and resulting wRVU production levels for physicians and advanced practice providers providing these services in inpatient and skilled nursing facility settings.
Looking for additional details on the changes?
SullivanCotter recently published an article with the American Association of Provider Compensation Professionals.
