CY 2026 Physician Fee Schedule Final Rule Summary Part II – MSSP Requirements

On November 5, 2025, CMS published in the Federal Register (90 FR 49266) a final rule relating to the Medicare physician fee schedule (PFS) for CY 2026 and other revisions to Medicare Part B policies. The policies in this final rule generally take effect on January 1, 2026. HFMA is providing a summary of the 2026 PFS final rule in three parts. Part I covers sections I through III.G (except for Section III.F: Medicare Shared Savings Program Requirements) and the Regulatory Impact Analysis. Part II covers the Medicare Shared Savings Program Requirements. Part III will cover the updates to the Quality Payment Program. The policies related to the Medicare Shared Savings Program are designed to strengthen financial incentives for long-term participation and further Medicare’s overall value-based care strategy of growth and alignment.