A 3.4% Medicare physician pay cut took effect on January 1, 2024. However, thanks to the passage of a new federal spending bill, this cut was reduced to 1.68% as of March 9. This reduced cut and the corresponding new conversion factor of $33.2875 will remain in effect through Dec. 31, 2024.
For more information, check out the revised 2024 Medicare physician fee schedule.
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