Fulcrum Research

From a national estimate to a practice-specific forecast.

Fulcrum reconstructs how a Medicare fee-schedule update changes payment, then applies that logic to the services a practice actually delivers. The national specialty estimate is context. CPT mix, locality, sites of service, and contract language determine the practice result.

Prepared by Fulcrum ResearchUpdated August 4, 2026

The distinction

Two related analyses. Two different answers.

01

Specialty reconstruction

Rebuild the proposed national result using CMS utilization and payment inputs. This explains the policies, service categories, and codes behind a specialty estimate.

02

Practice forecast

Apply the same payment logic to one organization's CPT volume, locality, sites of service, and Medicare-linked commercial contracts.

How the model works

Four steps from source files to financial impact.

01

Establish the baseline

Start with CMS utilization, payment files, the current fee schedule, and the published specialty estimate.

02

Reprice the services

Apply the proposed RVUs, conversion factors, and policy changes at the code and site-of-service level.

03

Hold utilization constant

Use the same service volume on both sides so the result isolates the rule change rather than a change in clinical activity.

04

Aggregate and reconcile

Roll code-level changes into service categories and specialties, then compare the reconstruction with CMS's published estimate.

Practice-specific inputs

The forecast becomes yours when the utilization does.

For a practice analysis, Fulcrum replaces the national utilization basis with the organization's own data and follows the Medicare update through the contracts tied to Medicare logic.

Interpretation and limits

What the figures do and do not mean.

Proposed is not final. Proposed-rule figures may change before the final rule takes effect.

National estimates simplify geography. Fulcrum's national specialty reconstruction uses CMS's published utilization basis and geographic indices of 1.0 unless stated otherwise.

Utilization is held fixed. The model isolates payment-policy effects. It does not predict changes in volume, coding behavior, or clinical mix.

Commercial impact depends on the contract. Medicare-linked rates move according to each agreement's language, timing, and fee-schedule reference.

The output is an analytical estimate. It is not a payment guarantee or a substitute for legal or contractual interpretation.

Primary sources

Start with CMS.

CMS-1848-PCY 2027 Medicare Physician Fee Schedule proposed ruleCMS fact sheetSummary of the proposed payment and policy changes

Your practice

See where your own service mix lands.

Fulcrum can turn a CPT utilization file into a practice-specific forecast within 72 hours after a BAA is signed.

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