CMS Releases CY 2027 Medicare Physician Fee Schedule

This afternoon, the Centers for Medicare and Medicaid Services (CMS) released the calendar year (CY) 2027 Medicare Physician Fee Schedule (PFS) proposed rule. Importantly, CMS estimates the CY 2027 PFS qualifying APM Conversion Factor (CF) to be $33.1693 (a -1.19 percent reduction from CY 2026), and the nonqualifying APM CF to be $32.8409 (a -1.68 percent reduction from CY 2026), which reflect the loss of the temporary 2.5 percent increase that applied in CY 2026.

On the quality front, CMS proposes to sunset the traditional MIPS reporting option in 2029. It also proposes to replace the current requirement to report an outcome or high priority measure with a new core measure requirement that applies to both traditional MIPS and MVPs (small practices exempt).

Additional information is included in the links below:

• Press Release
• PFS Fact Sheet
• QPP Fact Sheet
• Medicare Shared Savings Program Fact Sheet

APMA is reviewing the proposed rule and will prepare comments by the September 14 deadline.