CMS Releases 2025 Final Payment Rules, Finalizes Payment Proposal for Radiopharmaceuticals

On Friday, Nov. 1, 2025, the Centers for Medicare & Medicaid Services (CMS) released the final rules for the 2025 Medicare Physician Fee Schedule (MPFS) and the Hospital Outpatient Prospective Payment System (HOPPS). In the days ahead, your advocacy team will analyze the rules and report on specifics that may impact your practice as well as any actions ASNC will take.

Below is top-line analysis of a few key proposals:

Medicare Physician Fee Schedule

2025 Conversion Factor

CMS has finalized a 2.83 percent reduction to the 2025 Medicare conversion factor. Averting the cut requires action by Congress. ASNC members are urged to contact their members of Congress and ask them to stop the payment cut.

Hospital Outpatient Prospective Payment System

Hospital Outpatient Payment Update

CMS has finalized an update to the HOPPS payment rate by 2.9 percent. This increase is based on the projected hospital market basket increase of 3.4 percent reduced by a 0.5 percentage point productivity adjustment.

Packaging for Diagnostic Radiopharmaceuticals

CMS has finalized changes to the way it pays for diagnostic radiopharmaceuticals. The agency will separately pay for radiopharmaceuticals above a per-day cost of $630 beginning Jan. 1, 2025. All qualifying products will be paid at their mean unit cost using data derived from hospital claims.

Details to Come

Please refer to the following documents:

• CY2025 Medicare Physician Fee Schedule Final Rule
• CY2025 Medicare Physician Fee Schedule Final Rule Fact Sheet
• CY2025 Hospital Outpatient Prospective Payment System Final Rule
• CY2025 Hospital Outpatient Prospective Payment System Final Rule Fact Sheet

ASNC’s advocacy team is, as always, working for you and will keep you informed.

Best regards,
Your ASNC Team