Healthcare providers across the United States received a welcome update on March 9, 2024, with President Biden’s signing of the Consolidated Appropriations Act, 2024. This legislative action included a significant 2.93% increase to the 2024 Physician Fee Schedule Conversion Factor for services rendered between March 9, 2024, and December 31, 2024.
While this increase brings positive news for healthcare professionals, it’s essential to note that it is not retroactive to January 1, 2024. As a result, healthcare providers accessing Medicare fees from the New York State Psychological Association (NYSPA) website (www.nyspsych.org/medicare) will notice two distinct sets of fees for the year 2024.
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