President Obama signs bill setting Medicare 2014 payment rates

January 6, 2014 — President Obama recently signed into law the Pathway for SGR Reform Act of 2013, which allowed the Centers for Medicare and Medicaid Services (CMS) to release the final conversion factor for the 2014 Medicare Physician Fee Schedule (MPFS) as $35.8228 — reflecting the 0.5 percent increase. 

The conversion factor is multiplied by the total relative value units (which are adjusted for geographical differences) to determine the corresponding fee. This law prevents a sustainable growth rate (SGR) reduction of more than 20 percent that was scheduled to take effect Jan. 1. Instead, the law suspends the reduction, provides for a 0.5 percent increase and temporarily extends the therapy cap exceptions process through March 31.

Source: American Chiropractic Association