SEARCH
Current Location:
>
> This Story


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

Genetic test predicts sensitivity of tumors to radiation therapy Customizing dose to a particular tumor instead of standard uniform dose

Certain cardiovascular factors may predict Alzheimer’s Alcohol, smoking, diabetes and obesity all increase risk

Is China the new frontier for medical equipment manufacturers? 'Made in China 2015' initiative aims to boost quality — and competitiveness

Guerbet to acquire Mallinckrodt's contrast agent business Deal valued at $270 million will be paid in cash

NHS in U.K. to bring proton therapy to Manchester and London Another big contract for Varian, as proton tipping point continues

Family members of ICU patients may be at risk for PTSD New research indicates active decision-making reduces psychological distress

Study finds cardiac CT scans damage cells No damage detected in doses under 7.5 milliSieverts, however

Samsung launches new high-end ultrasound The HS70A uses S-Vision technology to reduce image noise

Laser clinic sues Cynosure, alleges fraudulent device advertising Practice seeks more than $5 million over failure to remove tattoos

Health care industry merger mania continues with Anthem's deal to buy Cigna Meanwhile employer-based insurance is thriving

Medicare cuts shave 2% off doctor payments, EHR program

by Brendon Nafziger , DOTmed News Associate Editor
Many doctors and hospitals across the country wish it were a joke but it's not. A 2 percent cut to Medicare physician and hospital payments goes into effect today, as part of the sweeping cuts to federal spending known as sequestration.

The sequestration comes about from a 2011 law that requires Congress to pass a balanced budget or have the government face more than $1 trillion in across-the-board cuts. So far this year, Republicans and Democrats have failed to agree on a budget deal or shield Medicare payments from the cuts.

Story Continues Below Advertisement

VIP Medical, Inc. - A Reputation For Quality!!! Visit www.vipmedinc.com

Our primary focus is International wholesale distribution of Pre-owned Medical Equipment. We specialize in Respiratory Equipment, primarily adult and infant ventilators. All major OEMs supported. Call 703-589-0369. DOTmed Certified



Although the sequester went into effect March 1, the Centers for Medicare and Medicaid Services announced early last month that it would take until April 1 to apply the cuts.

An American Hospital Association spokeswoman said the AHA had not calculated the total financial impact to U.S. hospitals because hospital budgets are too different from each other (some hospitals have more Medicare patients than others, for instance). But she said affected hospitals could "look to jobs and access to services" as a result of the snip.

"Do they need to cut back somewhere? That will play out differently for every hospital."

However, the group did co-commission a September 2012 report from the firm Tripp Umbach, which estimated that close to half a million jobs could be lost in the first year of the sequester, either directly at health care organizations or indirectly at companies supported by their business.

The Congressional Budget Office reckoned the cuts in payments for Medicare services would total some $11 billion the first year they went into effect, and reach $16 billion by 2021.

The Medicare cuts also affect the country's electronic health records incentive program. In a talk at HIMSS13 in New Orleans last month, Dr. Farzad Mostashari, the National Coordinator for Health Information Technology, said the cuts would shave $3 million off his department's $60 million budget.

"Absent a furlough in our hard-working staff, it's going to mean we have a major cut in the contracts that we have," he told attendees . "There's going to be things that the industry expects us to do that providers and patients expect us to do that we simply will not be able to do."

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