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Physicians are scheduled to take a 3.37% Medicare physician pay cut in 2024 which would come on top of this year's 2% pay cut. According to the AMA and others, virtually every other type of provider gets annual, inflationary pay updates from Medicare, physicians do not. After adjusting for inflation, physician pay has actually fallen by 26% since 2001.
This past Thursday, Reps. Greg Murphy, MD, (R-N.C.), Danny Davis (D-Ill.), Brad Wenstrup (R-Ohio), Jimmy Panetta (D-Calif.), Larry Bucshon, MD (R-Ind.), and Michael Burgess, MD (R-Texas), introduced legislation called the Preserving Seniors' Access to Physicians Act of 2023 that proposes to eliminate the cuts in their entirety.
The Senate Finance and the House Energy and Commerce Committees passed out legislation that would provide partial relief - 1.25% - from the Medicare cuts. The remaining committee of jurisdiction, the House Ways and Means Committee, is not expected to mark up any legislation this month to address the issue. Congress plans to include a package of health care bills as part of a federal appropriations package in mid-January to fund the government in FY 2024.
To help physician advocates and lawmakers get a stronger grasp on the complicated terrain of Medicare physician payment reform, the AMA's Medicare Basics series provides an in-depth, straightforward look at key elements of the payment system and why they are in need of reform. Members are also encouraged to visit the AMA's Fix Medicare Now website to learn more and get involved in grassroots efforts to support meaningful payment reform.
Interested in reading more? Check out the media links below:
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