New Medicare bill introduced
Over the past two decades, Medicare payment rates have fallen by 33% when adjusted for inflation in practice costs, leaving physicians struggling to figure out how they can continue to provide needed care to their elderly and chronically ill patients.
Congressional inaction led to another round of physician payment cuts, this time to the tune of 2.83% that went into effect on Jan. 1, marking the fifth consecutive year that Medicare physician payment has been cut.
Everyone, including Congress, agrees that the Medicare physician payment model is hopelessly broken, and these yearly cuts are having a negative impact on physician practices while leaving patients' access to care at risk.
Recently, Reps. Greg Murphy, MD (R-NC) and Jimmy Panetta (D-CA), along with a bipartisan group of legislators, re-introduced the Medicare Patient Access and Practice Stabilization Act (H.R. 879). If passed, this legislation would, effective April 1, prospectively cancel the 2.83% payment cut that went into effect on Jan. 1, while also providing a 2.0% payment update, helping to stabilize physician practices and protect patients' access to care.
America's patients and physicians are counting on Congress to provide this much needed relief and work toward achieving long-term Medicare physician payment reform.