CMS Lessens Lab Test Cuts, Finalizes Revaluation Proposal In Physician Fee Schedule-thegraysheet: Diagnostic laboratories and test makers can breathe easier in the near-term following CMS’ decision to scale back planned 2014 payment cuts to independent laboratories in the latest physician fee schedule. But the agency is moving forward with a longer-term wholesale review and planned revision of laboratory payments that is likely to keep the diagnostics community anxious.