Following medicine’s fervent advocacy in late 2021 that convinced Congress to stop almost all of a nearly 10% Medicare physician pay cut for 2022, the American Medical Association has released an updated analysis of Medicare payments by specialty for this year.
The AMA chart includes 2022 estimated payment percentage impacts for more than 80 specialties, from addiction medicine to vascular surgery, factoring in the Protecting Medicare and American Farmers from Sequester Cuts Act. That law, prompted by grassroots advocacy by the Texas Medical Association, AMA, and others, staved off two cuts totaling 6% and mitigated a planned 3.75% reduction to the fee schedule’s conversion factor, a multiplier that’s part of the calculations for payment rates for a particular service.
Following passage of the law, the Centers for Medicare & Medicaid Services announced in December that the physician fee schedule conversion factor for 2022 is $34.6062. That’s a decrease of less than 1% from the 2021 conversion factor of $34.8931.