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

Cardinal Health agrees to pay $26.8 million settlement over monopoly charges The proposed federal court order aims to restore competition in six markets

CMS star rating system finds physician-owned hospitals most satisfactory Of the participating physician-owned hospitals, 67 percent received four stars or more

So long, 'doc fix': Obama signs SGR repeal into law After almost 20 years, 'doc fix' legislation finally put out of its misery

Twitter may help predict ED visits for chronic conditions Asthma incurs over $50 million in annual medical costs

BIOTRONIK gets FDA nod for a first of its kind implantable cardioverter defibrillator Inventra DX is capable of ultra-high energy, 42 joules, initial shock

Health Care: The soft underbelly of cyber security how to protect your medical identity from cyberthreats

Brain imaging shows link between Down syndrome, Alzheimer’s: study PET imaging and MRI scans showed changes in the brains of people with Down syndrome, who are at higher risk for developing Alzheimer's disease, according to a new study

Dealing with staff addicts in the workplace New York radiologist allegedly wrote 280 illegal prescriptions

MWA 2015: Assessing the risk of pandemics and the promise of 3-D printing The show kicks off in ten days. What can visitors expect?

Illinois Health and Science to acquire IBA Molecular North America, Inc. IBAM NA will work with Zevacor to produce radionuclides

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

ENTERPRISE-LEVEL INFORMATION SHARING. NEXT-LEVEL CARE from McKesson

As your health system grows McKesson keeps you one step ahead with solutions for the entire enterprise & your diagnostic imaging departments. Visit McKesson at HIMSS booth 2602. Click for more info or to schedule a HIMSS demo



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 Central
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