On March 9, 2024, President Joe Biden signed a major government funding bill that partially rescinded the Medicare fee cuts that went into effect on January 1, 2024. Included in the federal spending package was a provision that reduced the previous cuts by 1.68 percent. This provision effectively reduced the Medicare Physician Fee Schedule cuts for the rest of the calendar year to 3.69 percent. The changes in the fee schedule will be in effect as of March 9th and will not impact payments for services delivered between January 1st and March 8th, 2024. In other words, the fee schedule increase is not retroactive but will apply to claims filed for services rendered on and after March 9th. Further information will be updated as it becomes available.