Protecting Air Ambulance Services for Americans Act of 2023

This bill updates Medicare's payment system for air ambulance services to better reflect actual costs. It requires air ambulance providers to submit detailed cost and revenue data every three years (including fixed costs, utilization, and revenue) to the Medicare Secretary. The Secretary must then revise fee schedules using this data, considering stakeholder input. A separate provision mandates a GAO study analyzing average costs per transport, payment adequacy, geographic variations, and recommendations for improving Medicare payments - directly affecting Medicare beneficiaries receiving air ambulance care and the providers who serve them.