Medicare Physician Fee Schedule 2025: What Practices Need to Know

By Aravind Kumar · Published December 10, 2024 · Updated February 24, 2026

CMS has finalized the 2025 Medicare Physician Fee Schedule with significant changes to reimbursement rates, E/M documentation, and telehealth policies. Here is what your practice needs to prepare for.

The 2025 Medicare conversion factor is set at $32.35, representing a reduction from the 2024 rate. Practices should review their fee schedules and financial projections accordingly.