- Last month, Congress enacted its annual appropriations package for fiscal year (FY) 2024, allocating nearly $2 trillion to fund the government.
- The package provided $730 million in Medicare physician payment relief, increasing reimbursements by 1.68% from March 9 through Dec. 31, 2024, and STS remains committed to advocating for the elimination of all payment cuts and pursuing systematic reforms to address this issue.
- STS consistently supports various government agencies and research programs that drive medical advances, enhance quality of care, and disseminate best practices – and will continue to advocate for robust funding for these critical government programs.
In March, Congress enacted its annual appropriations package for fiscal year (FY) 2024, allocating nearly $2 trillion to fund the government. While the package excluded many health policy items under debate, it included two key STS priorities: funding for essential medical research programs and mitigating cuts to Medicare physician reimbursements.
The package provided $730 million in Medicare physician payment relief, increasing reimbursements by 1.68% from March 9 through Dec. 31, 2024, resulting in a new conversion factor of $33.29. STS has actively advocated for this relief, although the amount falls short of what many stakeholders, including STS, had sought. We remain committed to advocating for the elimination of all payment cuts and pursuing systematic reforms to address this issue.
STS consistently supports various government agencies and research programs that drive medical advances, enhance quality of care, and disseminate best practices. For FY24, STS has backed several programs, including the National Institutes of Health, the Agency for Healthcare Research and Quality, the Pediatric Specialty Loan Repayment Program, and the Congressionally Directed Medical Research Programs for Lung Cancer Research, as well as initiatives related to tobacco and smoking control, and public health research on firearm morbidity and mortality prevention. For the first time in many years, funding for these programs was essentially flat compared to last year, which was both expected and disappointing.
As Congress begins to determine appropriations levels for FY25, STS will continue to advocate for robust funding for these critical government programs, which are vital for advancing patient care and medical research.