The conversion factor increased due to the Consolidated Appropriation Act being signed into law.

The Centers for Medicare & Medicaid Services (CMS) updated the 2024 Medicare physician fee schedule conversion factor in response to the Consolidated Appropriation Act, 2024 (CAA), signed into law on March 9, 2024. This update includes a 1.68% increase, partially offsetting the 3.37% reduction implemented on January 1. The revised conversion factor, now at $33.2875, applies to services rendered between March 9 and December 31.

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