CY 2027 Physician Fee Schedule Proposed Rule Summary – Part I

On July 16, 2026, the Centers for Medicare & Medicaid Services (CMS) published in the Federal Register (91 FR 43842) a proposed rule relating to the Medicare physician fee schedule for CY 2027 and other revisions to Medicare Part B policies. If finalized, policies in the proposed rule generally would take effect on January 1, 2027. The 60-day comment period ends at close of business on September 14, 2026. HFMA provides a summary in three parts. Part I covers sections I through III.I (except for Section III.G: Medicare Shared Savings Program Requirements) and the Regulatory Impact Analysis. Part II will cover the Medicare Shared Savings Program Requirements. Part III will cover the updates to the Quality Payment Program.

View the CY 2027 PFS Proposed Rule Executive Impact Brief

Additional 2027 Medicare Physician Fee Schedule Proposed Rule Summaries

• CY 2027 PFS Proposed Rule Summary Part II – MSSP Requirements
• CY 2027 PFS Proposed Rule Summary Part III – Quality Payment Program

CY 2027 PFS Proposed Rule Resources

• CY 2027 Physician Fee Schedule Proposed Specialty Impact Tables
• 2027 Medicare Physician Fee Schedule proposed rule includes broad payment changes (article)
• CMS proposes new 340B reporting and HOPD attestation requirements (article)
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