2003 Updates
Date: March 1, 2003
"Medicare Program; Physician Fee Schedule Update for Calendar Year 2003
AGENCY: Centers for Medicare & Medicaid Services (CMS), HHS.
ACTION: Final rule.
SUMMARY: This final rule revises the estimates used to establish the
sustainable growth rates (SGRs) for fiscal years 1998 and 1999 for the
purposes of determining future updates to the physician fee schedule and
announces a 1.6 percent increase in the calendar year (CY) 2003 physician
fee schedule conversion factor (CF) for March 1 to December 31, 2003. The
physician fee schedule CF from March 1 to December 31, 2003, will be
$36.7856. The anesthesia CF for this
period will be $17.05. Any information contained in this final rule related
to the CY 2003 physician or anesthesia CFs takes the place of the
information contained in the December 31, 2002, final rule. All other
provisions of the December 31, 2002, final rule are unchanged by this final
rule. DATES: Effective date: This rule is effective on March 1, 2003."
How to update the Dollar Conversion Factor in 2003 InstaFee$ and
Files
2003 InstaFee$ and Files software users should update their fee schedules to
reflect
Medicare's newly revised Physician Fee Schedule Update effective March 1,
2003 thru December 31, 2003.
1) Open InstaFee$ and Files from your desktop. The title bar on
the main screen should currently read "2003 Medicare RVU Based Fees -
Conversion Factor: 34.592".
2) To update the conversion factor click on the "Wizard" button located at
the bottom of this screen, third button from the right. This will open the
Setup Wizard.
3) Click on the third tab titled "3) Fees". About 3/4 down the screen you
will see "Conversion Factor 34.592 (2003)" which is checked.
4) Click on the check box for "Other" (right next to it).
5) Enter the updated Conversion Factor of 36.7856.
6) Click the "Done" button (bottom right corner). This will take you to the
"Remember to Recalculate" screen and then back to the main screen.
7) Remember to click "Recalculate" (on the main screen). You can tell it has
been clicked by its faded appearance. You will also notice that the title
bar now reads "2003 Medicare RVU Based Fees - Conversion Factor: 36.7856".
Your conversion factor is now updated to reflect the 2003 Medicare Physician
Fee Schedule effective March 1, 2003 thru December 31, 2003. You WILL NOT
have to update the conversion factor every time you reopen the software. It
will remain 36.7856 until you manually change it again.
Date: January 1, 2003
The dollar Conversion Factor for the Medicare Physician Payment Fee Schedule (MFS) is determined annually by the Centers for Medicare and Medicaid Services (CMS). The MFS is based on a dollar conversion Factor, and was published in the December 31, 2002 Federal Register. It represents a pay cut of about 5%, down from 2002. At the time of this InstaFee$ & Files release, several bills were pending before congress which could change the dollar Conversion Factor, and thus change the fee schedule for 2003.
We anticipate a change by Congress. Therefore, we have set the software default at the current 2003 dollar Conversion Factor ($34.592), and added a feature that allows you to change it if necessary. If Congress changes the dollar conversion factor, simply enter the new amount. Instructions for updating this factor will be posted here.
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