CY 2025 Medicare Physician Fee Schedule Conversion Factor Update
November 1st, the Centers for Medicare & Medicaid Services released its calendar year (CY) 2025 final rule for the physician fee schedule. The rule will cut the conversion factor by 2.8% to $32.35 in CY 2025 compared to $33.29 in CY 2024. This reflects the expiration of the 2.93% statutory payment increase for CY 2024; a 0.00% conversion factor update under the Medicare Access and CHIP Reauthorization Act; and a .02% budget-neutrality adjustment.
The CY 2025 MPFS, with location adjustments, will be available after the CY 2025 physician fee schedule regulation is put on display.
NGSMedicare.com will notify providers, of Jurisdiction K and 6, via email, once the Fee Schedule Lookup tool has been updated with CY 2025.
For more information and application instructions for the Phase 3 General Distribution of Provider Relief Fund go to