As a result of the July 15 enactment of the Medicare Improvements for Patients and Providers Act of 2008, the mid-year 2008 Medicare physician fee schedule (MPFS) rate reduction of -10.6 percent is retroactively replaced with the fee schedule rates in effect from January through June 2008, which reflected a 0.5 percent update from 2007 rates.
It may take up to 10 business days to implement the new law’s changes. The Centers for Medicare and Medicaid Services (CMS) will post the new physician fee schedule as soon as possible and will continue its rolling 10-day hold and release of claims. Thus some claims may still be paid at the lower rates that were in effect between July 1 and July 15. Contractors will automatically reprocess any claims paid at the lower rates. Read the fact sheet.
