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July 15, 2025
CMS Proposes 2026 Fee Schedule Conversion Factors

CMS Proposes 2026 Fee Schedule Conversion Factors

Yesterday, the Centers for Medicare and Medicaid Services (CMS) released its Medicare Physician Fee Schedule (MPFS) proposed rule for calendar year 2026. As most of our readers know, there are two primary numbers that generate the most interest when these rules are released: the RBRVS (or non-anesthesia) conversion factor and the anesthesia conversion factor. These numbers will greatly determine the financial fortunes for providers over the coming year. With that in mind, here are the proposed conversion factors for 2026:

CMS Proposes 2026 Fee Schedule Conversion Factors

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RBRVS Conversion Factor

The proposed 2026 conversion factor for non-anesthesia providers, as well as for those providers who are not participating in alternative payment models (APMs), is $33.42. This represents a projected increase of $1.07, or 3.32%, from the current conversion factor of $32.35. This would apply to all non-anesthesia services, such as acute pain blocks and invasive line placements.

Anesthesia Conversion Factor

The proposed 2026 anesthesia conversion factor (applicable to those anesthesia providers not participating in an APM) is $20.57. This reflects a 1.3% increase from the current anesthesia conversion factor of $20.31. While modest, this does represent a long-awaited increase for the anesthesia community.

Taken together, both increases in the above conversion factors will help instill some measure of relief to anesthesia and chronic pain providers should these proposals become final in November.