Bill > HR6545

This bill, the Physician Fee Schedule Update and Improvements Act, aims to make several changes to the Medicare program's physician fee schedule. Key provisions include: 1. Extending the floor for the work geographic index, which helps determine Medicare payments, from January 2024 to January 2025. 2. Increasing the support for physicians and other practitioners adjusting to changes in Medicare payments from 1.25% to 3%. 3. Extending the incentive payments for participation in eligible alternative payment models (APMs) through 2026, with some reductions in payments for those who have participated for several years. 4. Updating the budget neutrality threshold, which limits the changes to Medicare payment rates, to $53 million for 2025 and increasing it annually thereafter. 5. Requiring the Secretary of Health and Human Services to update the direct cost inputs used to calculate practice expense relative value units (RVUs) for physician services at least once every 5 years.