March 22, 2024
The Centers for Medicare & Medicaid Services (CMS) has updated its website to reflect the new Medicare Physician Payment Schedule conversion factor. This is a result of the Consolidated Appropriation Act of 2024, which, starting March 9, 2024, included an additional 1.68 percent update to the 2024 conversion factor, which offset a portion of the 3.37 percent cut that went into effect on January 1, 2024. The 2024 conversion factor for dates of service January 1 through March 8, 2024, was $32.74. CMS has now established the new conversion factor of $33.2875 for dates of service March 9 through December 31. Below are the nursing facility codes payment rates updated to reflect the new conversion factor.
Code | Total 2024 | 2024 Payment Rate | Total 2023 | 2032 Payment Rate | Percentage Change |
RVUs | (CF=33.2875) | RVUs | (CF=33.8872) | 2023-2024 | |
99304 | 2.39 | $79.56 | 2.38 | $80.65 | -1.36% |
99305 | 3.97 | $132.15 | 3.94 | $133.52 | -1.02% |
99306 | 5.42 | $180.42 | 5.38 | $182.31 | -1.04% |
99307 | 1.2 | $39.95 | 1.17 | $39.65 | 0.75% |
99308 | 2.22 | $73.90 | 2.2 | $74.55 | -0.88% |
99309 | 3.21 | $106.85 | 3.15 | $106.74 | 0% |
99310 | 4.58 | $152.46 | 4.53 | $153.51 | -0.69% |
99315 | 2.43 | $80.89 | 2.41 | $81.67 | -0.95% |
99316 | 3.9 | $129.82 | 3.88 | $131.48 | -1.26% |
G0317 | 0.9 | $29.96 | 0.9 | $30.50 | -1.77% |
%= (new-old)/old |
