Year 2004 conversion factor rises to $37.3374

Why This Topic Matters

Annual Medicare fee schedule changes can affect reimbursement, budgeting, and billing workflows across multiple specialties. This summary helps readers understand the scope of the 2004 changes and identify areas where payment or valuation updates may apply.

Article Sections

1. 2004 fee schedule overview

   Introduces the 2004 Medicare physician fee schedule and the federal rulemaking sources summarized in the article. Covers the overall context for the payment updates discussed throughout the piece.

2. Conversion factor, SGR, MEI, and GPCIs

   Reviews major Medicare payment update components for 2004, including the fee schedule conversion factor, growth target, economic index, and geographic adjustments. Discusses broad valuation changes driven by federal policy changes.

3. Work RVUs

   Summarizes selected changes affecting work relative value units across several service categories. Includes discussion of imaging, monitoring, colonoscopy-related payment policy, and specialty code valuation updates.

4. Practice expense RVUs

   Covers practice expense valuation changes, including timing for supplemental data submissions and selected specialty-specific RVU adjustments. Also notes temporary payment changes in monitoring services and related billing effects.

5. Drug reimbursement

   Describes changes to Medicare Part B drug payment methodology for 2004. Includes general reimbursement updates for administered drugs and special treatment for newly approved drugs.

6. Anesthesia and pain management

   Addresses Medicare payment updates affecting anesthesia services for 2004. Summarizes the national conversion factor change noted in the article.

7. Miscellaneous

   Presents additional policy items not covered in the earlier sections, including ESRD payment methodology, family visit policy, diabetes definition clarification, and outpatient therapy issues. Also notes therapy cap changes associated with federal legislation.

8. Six RUC recommendations rejected by CMS

   Lists a small set of codes for which CMS did not accept the reported RUC work RVU recommendations. Provides a brief comparison of requested and finalized values.

9. Selected code changes in Medicare's 2004 physician fee schedule

   Shows examples of frequently billed and high-dollar services with year-over-year payment comparisons. Highlights how the annual fee schedule changes affect selected commonly used codes.