CMS Releases Final CY25 Physician Fee Schedule, Quality Payment Program Rule

The Centers for Medicare & Medicaid Services (CMS) on Nov. 1 released the calendar year (CY) 2025 Medicare Physician Fee Schedule and Quality Payment Program (QPP) final rule that updates payment rates for physicians and other health care professionals, extends certain telehealth waivers and flexibilities, refines the Shared Savings Program for accountable care organizations, revises requirements under the QPP, and changes other policies.

The CMS lowered the conversion factor from $33.29 in CY 2024 to $32.35 for CY 2025, a decrease of $0.94 (or 2.83%). The agency also expanded some telehealth policies, such as adding services to the Medicare Telehealth List on a provisional basis and permitting virtual supervision of resident telehealth services through CY 2025. However, the CMS lacks the authority to extend many of the other telehealth flexibilities beyond Dec. 31 without congressional action [refer to Washington Highlights, Jan. 4, 2023]. Additionally, the agency finalized proposals to further the objectives of the CMS Behavioral Health Strategy to promote high-quality behavioral health services and supports.