CY 2025 Physician Fee Schedule Final Rule Summary Part III – Quality Payment Program Updates

On November 1, 2024, CMS placed on public display a final rule relating to the Medicare physician fee schedule (PFS) for CY 2025 and other revisions to Medicare Part B policies. The final rule will be published in the December 9, 2024, issue of the Federal Register. Policies in the final rule generally would take effect on January 1, 2025. HFMA is providing a summary in three parts. Part I covers sections I through III.P (except for Section G, which covers the Medicare Shared Savings Program Requirements) and the Regulatory Impact Analysis. Part II covers the Medicare Shared Savings Program Requirements. Part III covers the updates to the Quality Payment Program, including the traditional Merit- based Incentive Payment System (MIPS), MIPS Value Pathways, and the Alternative Payment Model Incentive.