Updated Medicare Payment Amounts for Outpatient Therapy in 2024
Congress has passed legislation increasing Medicare payment for outpatient physical, occupational, and speech therapy provided in all outpatient therapy settings, except for a critical access hospital.
In this article, I will provide my members with the estimated payment amounts beginning March 9, 2024, for the more common CPT codes billed in outpatient physical, occupational and speech therapy compared to the 2023 payment rate for each CPT code. For my examples, I used the national payment averages for each CPT code. Based on the location of your clinic/organization, your payment may be higher or lower than the national average.
Click HERE to see who this increase applies, what is the new conversion factor, and when does it expire.
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Am I misreading this? The chart seems to indicate a decrease?
You are not misreading. 2024 was always going to be lower than 2023. Instead of a 3.4% decrease, it is not about a 1.7% decrease.
Yes, everyone please be aware that this is not an increase, it is less of a decrease from the 3%. The AAOS put out a very firmed worded statement on this- I will be amazed if the APTA does the same. This cannot continue.
This looks like reductions not increases per your article on MC increases?
It is a reduction compared to 2023, but an increase to 2024 compared to what it was supposed to be.