SEARCH
Current Location:
>
> This Story

starstarstarstarstar (1)
Log in or Register to rate this News Story
Forward Printable StoryPrint Comment

Never Miss a Story

Sign up for email alerts

 

More Industry Headlines

Is the Mo-99 shortage over? Nordion, MURR, General Atomics form production partnership The Sterigenics International subsidiary will focus on LEU Mo-99 production process

Olympus facing suits for infection and death of patients at UCLA Olympus Corp. of the Americas is facing suits for infections allegedly stemming from use of its duodenoscopes

DoD is homing in on a suitor for its $11 billion EHR contract Interested parties emphasize "fee for value" in selection process

Patient satisfaction little moved by fancy hospital design: study $200 billion spent on renovation projects, but is it worth it?

New Product Showcase This month's roundup of the latest industry products.

Young child is first fatality in Germany's measles outbreak Berlin has recorded more than 570 measles diagnoses since October

Toshiba to unveil Aquilion Lightning CT at ECR 2015 16-row helical CT with 0.5mm element for isotropic imaging

Medical identity fraud affected two million American adults last year Increased use of EHRs contributing to the problem

Medical World Americas announces sponsorship from major industry players GE, and others, are backing the second annual conference and expo

Comparing options for stereotactic radiosurgery Comparing options for stereotactic radiosurgery

Fiscal cliff gridlock could bring 29% Medicare cut to docs

by Brendon Nafziger , DOTmed News Associate Editor
The American Medical Association features a countdown timer prominently on its website, ticking off the seconds until the new year. But the society, which represents a quarter of the nation's doctors, is not simply being festive. It's warning about the hefty Medicare cuts to physicians that are coming in 2013.

Stalled fiscal cliff talks and lack of action on the sustainable growth rate reductions mean doctors could be facing a 29 percent reduction in Medicare reimbursements, starting early next week.

Story Continues Below Advertisement

We want to buy your Siemens Symphony or Avanto MRI -- today!

Top Dollar Paid, Fixed or Mobile. Call our Siemens Specialist for a Quote today -- 212-558-6600 Ext. 250 DOTmed Certified



Two blades are delivering the cuts. One is the SGR formula, which enacts a 27 percent cut in Medicare reimbursements to physicians, and goes into effect in January. The other is the so-called sequestration, a result of the Budget Control Act of 2011 that carries a 2 percent cut to providers and hospitals from 2013 to 2021, amounting to nearly $11 billion next year.

The deeply unpopular SGR was developed in the 1990s as a way to keep spending on Medicare in line with GDP growth. Medical societies have long lobbied for its repeal. They've never gotten it, but they usually get a reprieve before the cuts take effect. In a letter to Congress urging the SGR repeal, the AMA noted that the cuts have been delayed or frozen by congressional action 15 times since 2003, in what it called a "game of political chicken."

"Every time, Congress assures patients and physicians throughout the year that it will not allow scheduled cuts to take effect, yet we find ourselves in the same situation year after year," AMA said in the letter, dated Dec. 19.

The sequestration goes into effect if Congress is unable to deliver a balanced budget before the end of the year, sending the country tumbling over the "fiscal cliff," a mix of spending cuts and tax hikes totaling some $600 billion. So far, Congress and the White House have not been able to agree to a deal.

How will health care deal with the fiscal cliff? In part, possibly through layoffs or hiring freezes. A TrippUmbach report from the fall estimates the sequestration cuts could lead to the loss of almost half a million jobs in health care and related fields next year, and nearly 766,000 jobs by 2021.

Related:


Interested in Medical Industry News? Subscribe to DOTmed's weekly news email and always be informed. Click here, it takes just 30 seconds.

You Must Be Logged In To Post A Comment

Advertise
Increase Your
Brand Awareness
Auctions + Private Sales
Get The
Best Price
Buy Equipment/Parts
Find The
Lowest Price
Daily News
Read The
Latest News
Directory
Browse All
DOTmed Users
Ethics on DOTmed
View Our
Ethics Program
Gold Parts Vendor Program
Receive PH
Requests
Gold Service Dealer Program
Receive RFP/PS
Requests
Healthcare Providers
See all
HCP Tools
Jobs/Training
Find/Fill
A Job
Parts Hunter +EasyPay
Get Parts
Quotes
Recently Certified
View Recently
Certified Users
Recently Rated
View Recently
Certified Users
Rental Center
Rent Equipment
For Less
Sell Equipment/Parts
Get The
Most Money
Service Technicians Forum
Find Help
And Advice
Simple RFP
Get Equipment
Quotes
Virtual Trade Show
Find Service
For Equipment
Access and use of this site is subject to the terms and conditions of our LEGAL NOTICE & PRIVACY NOTICE
Property of and Proprietary to DOTmed.com, Inc. Copyright ©2001-2015 DOTmed.com, Inc.
ALL RIGHTS RESERVED