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July 17, 2026

CY 2027 Medicare Physician Fee Schedule: What It Means for Emergency Medicine

CMS released its proposed rule for the Calendar Year (CY) 2027 Physician Fee Schedule (PFS) – the annual regulation setting how Medicare pays physicians.

ACEP breaks down everything you need to know as review of the nearly 1,600-page regulation is ongoing.

The bottom line: There is an across-the-board pay cut (1.68%), a significant change to practice expense methodology, and new mandatory quality reporting (MVPs).

What's next: ACEP is analyzing the rule’s impacts on EM and developing a formal response to CMS. More information is coming soon about opportunities to make your concerns heard and to work with Congress to stop these cuts.

Read the ACEP summary: CY 2027 Medicare Physician Fee Schedule: What It Means for Emergency Medicine

Read the CMS press release

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