The PREFERRED Screening Act establishes a new payment model to reimburse healthcare providers for conducting comprehensive breast cancer risk assessments and developing personalized screening plans for Medicare patients. The model will cover eligible individuals ages 40 to 75 enrolled in Medicare Part A or B, using validated risk assessment tools that include genetic testing, family history, breast density, and lifestyle factors to categorize patients into risk levels. Participating providers—including doctors, nurse practitioners, genetic counselors, and physician assistants—will receive payments for these assessments and personalized plans, with the model emphasizing enrollment of providers in underserved areas, rural communities, and states with high breast cancer mortality. The Secretary of Health and Human Services must implement the model within two years, operate it for seven years, and evaluate its effectiveness through measures like screening frequency, medication utilization, cost-effectiveness, and patient outcomes, ultimately reporting to Congress on whether to expand or make the program permanent. The bill requires no new federal funding and uses existing Medicare resources to operate the initiative.