The Centers for Medicare & Medicaid Services (CMS) has updated the 2024 Medicare physician fee schedule conversion factor to reflect changes due to the Consolidated Appropriation Act, 2024 (CAA), which was signed into law on March 9. The CAA includes an additional 1.68% update to the 2024 conversion factor, offsetting a portion of the 3.37% cut that went into effect Jan. 1. The new conversion factor of $33.2875 impacts dates of service from March 9 through Dec. 31.

The AASM has updated the following payment and reimbursement documents to reflect this change:

Members may contact the AASM quality and health policy team with questions about the updated conversion factor at