MedPAC Delivers March 2024 Report to Congress
On March 15th, the Medicare Payment Advisory Commission (MedPAC) sent its March 2024 Report to the Congress.
The March report includes recommendations for all Medicare payment programs. As part of this package, MedPAC recommended that, for calendar year 2025, Congress update Medicare physician payments as outlined under current law plus a base conversion factor update of 50% of the Medicare Economic Index (MEI), which would generate an estimated +2.6% payment update if enacted.
Additionally, MedPAC urged Congress to enact a previously recommended safety-net clinician bonus payment, which would increase payments to physicians treating low-income Medicare patients. If billing guidelines for the bonus payment were otherwise met, the MedPAC recommendation suggests a 15% bonus to primary care physicians for these services and a 5% bonus to all other physicians.
MedPAC also held a meeting on March 7th and 8th. During the meeting, staff and commissioners discussed several issues related to Medicare Advantage and access to care for rural Medicare patients. MedPAC will hold its final meeting of the 2023/24 cycle on April 11th and 12th until it resumes meetings for the 2024/25 cycle in September.