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How CMS' physician conversion factor changed over the last 10 years

Physicians face another year of fee cuts in 2023 as Medicare proposes to reduce the conversion factor by 4.42 percent to $33.08. 

Many physicians are pushing back against the proposed cuts, arguing that continued cuts to the physician fee schedule would create long-term financial instability within the program and threaten patient access to Medicare-participating physicians.

Here's how the CMS' conversion factor has changed over the last 10 years, according to the American Medical Association:

Year

Conversion factor

2012

$34.04

2013

$34.02

2014

$35.82

Jan. 1 - June 30, 2015

$35.75

July 1 - Dec. 31, 2015

$35.93

2016

$35.80

2017

$35.89

2018

$35.99

2019

$36.04

2020

$36.09

2021

$34.89

2022

$34.61

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