Medicare Fee Schedule for 2008

2008 is about to come and you might want to update yourself regarding what to expect next year especially on the Medicare fee schedule. Currently, the physician fee schedule is about 10.1 percent payment cuts that are mandated by the SGR which governs Medicare payments.

However, you need to expect that Congress may correct this drop like it did for several years now by passing legislation before the end of the year of 2007 or at the beginning of the year 2008, which will maintain the 2007 conversion factor that is used to calculate the fees from Medicare.

Even if this happens, you will see that the fees will still be quite low compared in 2007 because of the budget neutrality requirements.

You need to remember that the Medicare fees is quite complex. In order to determine the amount of the reimbursement, you will need to know how to calculate it.

For 2008, you have to remember that there was some increase in RVUs for anesthesiology services. Because of this, the CMS implemented a budget neutrality adjuster which is applied to the work RVus assigned for every procedure.

With these factors, you can expect that the fee schedule in 2008 will be lower than what you paid for in 2007. You can find the fee schedule in your location by just visiting the website of the state you are currently residing in. However, you need to remember that the fees can be adjusted in 2008, which will mean that a new schedule may be posted when the adjustment is made.

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