CY 2026 Physician Fee Schedule Proposed Rule Summary Part II – MSSP Requirements

On July 16, 2025, CMS published in the Federal Register (90 FR 32352) a proposed rule relating to the Medicare physician fee schedule for CY 2026, and other revisions to Medicare Part B policies. If finalized, policies in the proposed rule generally would take effect on January 1, 2026. The 60-day comment period ends at close of business on September 12, 2025. HFMA is providing a summary in three parts. Part I covers sections I through III.G (except for Section II.H Outpatient Therapy Services and Section III.F: Medicare Shared Savings Program Requirements (MSSP)) and the Regulatory Impact Analysis. Part II covers the MSSP requirements. Part III will cover the updates to the Quality Payment Program. The policies related to the MSSP are designed to strengthen financial incentives for long-term participation and further Medicare’s overall value-based care strategy of growth and alignment.