On November 1, 2024, the Centers for Medicare & Medicaid Services (CMS) released the final rule for the 2025 calendar year (CY), which includes significant updates to the Medicare Physician Fee Schedule (PFS) and the Quality Payment Program (QPP).
The new payment rates and telehealth guidelines took effect on January 1, 2025. The projected 2.83% reduction in payment rates is expected to have a financial impact on physician practices, particularly as operational costs continue to rise.