Once again, we are recognizing a bit of relief brought forward through your advocacy efforts. We appreciate the support ADVION has provided through the letter campaigns specifically addressing the Physician Fee Schedule scheduled reduction as well as their updates and ongoing initiatives on our industry’s behalf.
December 29th, President Biden signed the provider relief legislation into law. The Consolidated Appropriation Act of 2023 included relief measures for our LTC sector, which we’d like to share below.
- 2023 Physician Fee Schedule:
- Prior to this legislation, we were facing a 4.47% reduction
- This law increases practitioner’s payments subject to the PFS by 2.5% for CY 2023
- Overall we will recognize a 1.97% payment cut vs 2022’s rates instead of the anticipated 4.47% reduction
- 2024 Physician Fee Schedule:
- This law includes a 1.25% increase for CY 2024
- Telehealth Beyond COVID-19 Act
- Currently set to expire 151 days after the termination of the PHE
- This legislation could extend telehealth flexibilities through December 31, 2024
QRM will be publishing an updated 2024 Fee Schedule for our frequently used therapy codes as soon as CMS releases all required tables.
The Point Is: Advocacy remains our most impactful mitigation strategy as we strive to retain the needed funding to serve the needs of our residents.
Please let us know if any questions on the above updates and we are sending our best for a ‘healthy’ 2023!
