July 1, 2015 Fee Schedule Change
Although a small change, Medicare fee schedules increase slightly on July 1, 2015. The “Medicare Access and CHIP Reauthorization Act (MACRA) of 2015” provides for a 0.5 percent update to the Medicare Physicians Fee Schedule and Anesthesia Conversion Factor as of July 1. The new conversion factor for the physician fee schedule is $35.9335. Medicare Administrative Contractors (MACs) have published updated fee schedules on their websites.
As an example, the national reimbursement rate for cataract surgery, 66984, from January 1 – June 30, 2015 was $647.16; the new rate as of July 1 through December 31, 2015 will be $650.40.
Practices should update allowed amounts into their systems to accurately reflect the updated rates.