CY14 Medicare Physician Fee Schedule Final Rule Fact Sheet

The Centers for Medicare & Medicaid Services (CMS) released a final rule with comment period in December 2013 that revises payment polices under the Medicare Physician Fee Schedule (PFS) and makes other policy changes related to Medicare Part B payment. Unless otherwise noted, these changes are applicable to services furnished in calendar year 2014 (CY14). The rule also finalizes changes to several quality reporting initiatives that are associated with PFS payments, including Physician Quality Reporting System (PQRS) changes to the Physician Compare tool on the Medicare.gov website. The rule continues the phased-in implementation of the physician value-based payment modifier (value modifier), created by the Affordable Care Act (ACA), which will affect payments to certain physician groups based on the quality and cost of care they furnish to beneficiaries enrolled in the Medicare fee-for-service program. 

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