Overview
- The agency released the proposed 2027 Physician Fee Schedule on July 14, 2026, and opened a public comment period that runs through Sept. 14, 2026.
- Physician payments would fall under the proposal with a 1.68% cut for clinicians not in advanced APMs and a 1.19% cut for those in advanced APMs, largely because a temporary 2.50% conversion-factor boost from 2026 expires.
- CMS would end traditional MIPS reporting in 2029 and push clinicians toward specialty-focused MIPS Value Pathways and new reporting options for common conditions.
- The rule would reshape incentives for Medicare Shared Savings Program ACOs by creating new entry incentives, more predictable spending targets, reduced tech and notice burdens, and permission for some ACOs to lower beneficiary out-of-pocket costs.
- The proposal would stop about $2.38 billion in current bonus payments to clinicians not in advanced value-based programs, seek public input on duplicate testing and interoperability, and increase transparency and oversight of payment calculations and billing practices.