The Centers for Medicare & Medicaid Services (CMS) released its proposed 2024 Medicare Physician Fee Schedule (PFS) on July 13. The proposed rule would be effective on or after Jan. 1, 2024.

The proposed PFS would decrease overall payment rates by 1.25 percent in 2024 compared with 2023. The proposed conversion factor for 2024 is $32.75, a 3.34 percent decrease from the 2023 conversion factor of $33.89.

Among the included proposals, CMS would implement the evaluation and management add-on code G2211 for longitudinal patient care. CMS expects payment for this code to have a redistributive impact on all other payments for 2024 due to statutory budget neutrality requirements.

The 2024 PFS would also make changes to the data reporting and payment requirements for clinical diagnostic laboratory tests (CDLTs), in accordance with section 4114 of the Consolidated Appropriations Act (H.R. 2617). The regulatory definitions of “data collection period” and “data reporting period” would be updated to specify that for the data reporting period of Jan. 1 to March 31, 2024, the data collection period is Jan. 1 through June 30, 2019. CMS is also proposing that data reporting be required every three years starting in January 2024.

Under the proposed rule, conforming changes would also be made to the requirements for the phase-in of payment reductions for CDLTs. For 2023, payment for an applicable test may not be reduced compared with the 2022 payment amount. Additionally, for 2024 through 2026, payment may not be reduced by more than 15 percent compared with the payment amount established for that test in the preceding year.