August 1, 2012
On July 31, 2012, the Congressional Budget Office released cost estimates of a one-year Medicare physician payment patch. This estimate may block a 27 percent reimbursement cut on January 1, 2013 and continue with the rates that Doctors receive now, which would require an offset total of $18.5 billion over the next 10 years.
If Congress decides to block the 27 percent cut and hold the flat rates for the next two years, it would require a total of $48 billion in offsets over the 2013 to 2022 fiscal period.
It is important to know that these estimates represent the amount of money lawmakers would try and cut in other areas of Medicare unless it is decided to let deficit spending grow, raise taxes or cut federal spending outside of health care program for seniors and the disabled.
SNMMI will bring you updates as they come.