The Centers for Medicare and Medicaid Services (CMS) released the 2021 Medicare Physician Fee Schedule (MPFS) proposed rule on August 3, 2020. The proposed rule will implement a budget neutrality requirement for all procedure codes paid under the MPFS, which will impact multiple specialty healthcare providers.
CMS also proposed a decrease in the 2021 conversion factor from $36.09 to $32.26. The conversion factor is a multiplier used to convert the geographically adjusted Relative Value Units (RVU)s for each code to determine the Medicare allowed amount for covered procedures.
As a result of the proposals, audiology services will see a 7% reduction in the allowable rates of their covered services.
For additional information on the proposed rule and its impact on audiology and SLP services, please visit ASHA’s website.
All comments are due to CMS October 5, 2020.