Physician Compensation Under the New Physician Fee Schedule: Major Changes to wRVUs, Conversion Factor, and More

Description

The Medicare Physician Fee Schedule (MPFS) Final Rule, published in December 2020, made significant and far-reaching changes to the MPFS. It went into effect on Jan. 1, 2021. Under the Final Rule, significant changes in wRVUs for the same office and other outpatient services evaluation and management services and certain other relevant services increased Jan. 1, 2021. To account for these changes, CMS decreased the 2021 conversion factor down three percent from 2020.

The Final Rule also expands who can receive reimbursement for providing telehealth services. The expanded list of providers includes clinical psychologists, physical therapists, occupational therapists, and speech pathologists who can now be reimbursed for online assessments, remote evaluations, and more. Further, under the Final Rule, the definition of "direct supervision" can be met by a physician or non-physician practitioner supervising via virtual audio/visual real-time communications technology.

Healthcare counsel and advisers must understand the impact of the fee schedule changes on physician compensation and what steps should be taken to ensure compliance under the Final Rule.

Listen as our authoritative panel of healthcare attorneys examines physician compensation under the new physician fee schedule. The panel will examine the major changes to wRVUs and the conversion factor that could create risk for health systems if they fail to adjust their compensation plans. The panel will also discuss the likely impact the changes in RVU values will have on contracting and physician alignment discussions. The panel will also discuss highlighted reimbursement impacts (like emergency department, telehealth, and specific specialty impacts).