With many policies finalized in the more than 2,300-page 2026 Medicare Physician Fee Schedule (PFS) and Quality Payment Program (QPP) final rule, MGMA Government Affairs created a member-exclusive key takeaway analysis

The 2026 PFS and QPP final rule was released on October 31, 2025, and includes provisions that will:

• Create two conversion factors based on qualified participant (QP) status, both with increases from last year;
• Revalue certain work and practice expense Relative Value Units (RVUs);
• Revise Medicare telehealth criteria;
• Update the Merit-based Incentive Payment System (MIPS) and maintain the current performance threshold;
• Make numerous changes to the Medicare Shared Savings Program (MSSP).

Many of these policies are scheduled to take effect in 2026, and practices should prepare for operational and financial adjustments accordingly. Stay tuned for additional resources from MGMA about how the finalized policies will impact your practice.