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Hey,
I just received an email from ASCO regarding Medicare Reimbursement Cut for medical oncology in 2022:
Conversion Factor
The 2022 Conversion Factor (CF) will be $33.59, a decrease of $1.30 from the 2021 PFS conversion factor of $34.89. This 3.7% reduction in the CF is largely due to the expiration of the 3.75% temporary payment increase provided by the Consolidated Appropriations Act (CAA) in 2021.
Specialty Impact
ASCO estimates a 5% overall reimbursement cut for the medical oncology specialty stemming from the fee schedule in 2022 based on updates to Relative Value Units (RVUs) and the updated CF. The actual impact on individual clinicians, however, will vary based on geographic location and the mix of Medicare services billed.
Additionally, that estimate does not include the expiration of the Medicare sequestration moratorium (an additional 2% overall cut) and the statutory sequestration (a further 4% cut overall) set to take effect January 1, 2022.
As 2021 comes to an end, so does the deadline for Congress to take action on the looming sequestration cuts to Medicare reimbursement. ASCO urges Congress to prevent this impending Medicare payment crisis through legislation. ASCO members are encouraged to contact their lawmakers and ask them to support providers, and patient access to care, by stopping additional cuts to Medicare reimbursement before the end of the year.
ASCO will complete a full specialty impact analysis in the coming weeks as the Association looks more deeply into the final rule.
Clinical Labor
CMS will move forward with updates to the Clinical Labor rates and will phase in the updates over four years to transition from the current rates to the final updated prices in 2025. CMS is following the same implementation methodology it did for updated supply and equipment prices.
Any ideas how will this could affect medical oncologists?
I just received an email from ASCO regarding Medicare Reimbursement Cut for medical oncology in 2022:
Conversion Factor
The 2022 Conversion Factor (CF) will be $33.59, a decrease of $1.30 from the 2021 PFS conversion factor of $34.89. This 3.7% reduction in the CF is largely due to the expiration of the 3.75% temporary payment increase provided by the Consolidated Appropriations Act (CAA) in 2021.
Specialty Impact
ASCO estimates a 5% overall reimbursement cut for the medical oncology specialty stemming from the fee schedule in 2022 based on updates to Relative Value Units (RVUs) and the updated CF. The actual impact on individual clinicians, however, will vary based on geographic location and the mix of Medicare services billed.
Additionally, that estimate does not include the expiration of the Medicare sequestration moratorium (an additional 2% overall cut) and the statutory sequestration (a further 4% cut overall) set to take effect January 1, 2022.
As 2021 comes to an end, so does the deadline for Congress to take action on the looming sequestration cuts to Medicare reimbursement. ASCO urges Congress to prevent this impending Medicare payment crisis through legislation. ASCO members are encouraged to contact their lawmakers and ask them to support providers, and patient access to care, by stopping additional cuts to Medicare reimbursement before the end of the year.
ASCO will complete a full specialty impact analysis in the coming weeks as the Association looks more deeply into the final rule.
Clinical Labor
CMS will move forward with updates to the Clinical Labor rates and will phase in the updates over four years to transition from the current rates to the final updated prices in 2025. CMS is following the same implementation methodology it did for updated supply and equipment prices.
Any ideas how will this could affect medical oncologists?
