All Members

On November 2, 2023, the Centers for Medicare & Medicaid Services (CMS) published the Medicare Physician Fee Schedule final rule. Despite vocal opposition from The Society of Thoracic Surgeons (STS) and many others in the physician community, this rule finalizes a greater than 3% reduction to physician reimbursement beginning January 1, 2024.

When adjusted for inflation, Medicare physician payments have declined by 26% since 2001. This latest reduction is the most recent example of a trend that is unsustainable and impacts patient access to care. These cuts are due to the implementation of the flawed complexity add-on code G2211, combined with expiring temporary relief previously enacted by Congress. The final rule also contains a few positive developments. CMS agreed with STS’s concerns that raising the required threshold to avoid a penalty in the Merit-based Incentive Payment System (MIPS) from 75 to 82 points was inappropriate at this time because the MIPS program has been largely paused since 2019 due the COVID-19 pandemic. CMS also approved several new intraoperative cardiac ultrasound CPT codes (76987–76989) at higher levels than in the proposed rule, which will be available to cardiothoracic surgeons next year.

Fortunately, the Senate Finance Committee recently released a draft legislative proposal that seeks to extend relief payments for physicians that are slated to expire this year. If enacted, this would help counteract a portion of the cuts slated for 2023. STS will continue to urge Congress to halt this unsustainable cut and to enact policies such as H.R. 2474, the Strengthening Medicare for Patients and Providers Act, which would provide an annual automatic inflation update for physician payments going forward. Help us maintain adequate Medicare reimbursements by contacting your lawmakers now!

Learn more about STS’s advocacy efforts focused on the 2024 Medicare Physician Fee Schedule.

The Society of Thoracic Surgeons presented the Legislator of the Year Award to Congressman Raul Ruiz, MD, (D-CA), during a ceremony at the 2023 STS Advocacy Conference on October 17 in Washington, DC. The congressman was honored for his leadership on numerous policies impacting cardiothoracic surgeons and the physician community at large.

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“As an emergency physician, Rep. Ruiz understands the issues facing physicians and their patients. He works tirelessly on behalf of the community to address these issues head-on,” said Thomas E. MacGillivray, MD, STS President. “He has championed improvements to stabilize Medicare physician payments through an annual inflationary update. He also has played a key role in reducing physician burnout and maintaining an appropriate balance of power during insurance negotiations over billing disputes. STS is incredibly proud to be represented in Congress by a physician leader like Dr. Ruiz.”

Cardiothoracic surgeons provide tremendous value to the patients and institutions they serve. But understanding their value and translating it into fair compensation has always been challenging. While there are external resources that provide general guidance on surgeon compensation, there are no compensation surveys that capture the nuances of the specialty. Until now.

STS has commissioned Gallagher, a consulting firm with more than four decades of experience in physician compensation and valuation services, to conduct a first-of-its-kind compensation survey in early October to help CT surgeons practicing in the U.S. understand their value in the market specific to their specialty, practice, career stage, and geographic region. Data collected will be kept confidential and will not be shared with STS.

A compensation report, featuring only aggregated data consistent with federal guidelines to ensure data integrity and anonymity, will make it easier for CT surgeons to evaluate employment opportunities and negotiate salaries and benefits.

The compensation report—slated for release January 2024—will be available to STS surgeon members who participate in the survey at no cost, and to STS members and nonmembers who do not participate in the survey for a fee.

How To Participate in the STS Compensation Survey

Non-resident/trainee CT surgeons should have received an email with instructions on how to complete the survey from Gallagher or you can access the survey here. The survey should take about 15 minutes to complete.

Participants should have their 2022 W-2 (or equivalent income documentation), compensation plan, and associated annual compensation calculations and productivity (e.g., wRVUs, etc.) reports at hand before they begin. Participants should contact their practice administrator if they do not have access to the required documentation.

Deadline for completing the survey is October 27, 2023.

If you have questions or do not receive an email invitation but wish to participate, email jenna_lambrecht@ajg.com.