The proposed 2024 Medicare Physician Fee Schedule conversion factor is decreasing to $32.75, down from $33.89 in 2023.  This reduction is based on several factors, mainly stemming from the requirement that the fee schedule remain budget neutral. With the budget neutrality requirement, when new codes are added to the fee schedule, or other codes get revalued, the money gets redistributed from existing codes, which occurs by decreasing the conversion factor. Based on the proposed conversion factor of $32.7476, Addendum B of relative value units for 2024, and the 2023 Medicare fee schedule without GPCI published on the CMS website, the table below shows the proposed cuts for some commonly billed interventional cardiology procedures.