https://issuesinsights.com/2022/11/07/doctor-fix-thyself/
We owe a lot to America’s physicians, the brave men, and women on the front lines of the war against COVID-19. Yet rather than supporting American doctors, flawed public policy will soon reduce Medicare’s physician fee schedule, compounding and magnifying the increased pandemic pressures and economic challenges that physicians have been facing over the past two-and-a-half years.
Current federal policies call for a 4.42% cut in Medicare physician fee schedule payments, effective Jan. 1, 2023. Such drastic cuts for our nation’s physicians will force many small to mid-size practices out of business — particularly those in rural communities — placing an increased, and deeply unfair, financial strain on the ones that remain. The result is entirely predictable, a weakened health care system that endangers the lives of vulnerable patients. Proposed reductions to Medicare’s physician payments will undermine the economic viability of practicing medicine in towns and cities nationwide, and further broaden the health care equity gap for both rural America and lower income communities of color.
These fast-approaching ill-considered cuts magnify the insidious instability of Medicare’s arcane and antiquated physician payment system For quite some time the growing discrepancy between the cost of running a medical practice and the actual payments physicians receive from Uncle Sam through Medicare has become more and more unreasonable and unjustifiable, considering the various administrative red tape and financial burdens of participating in the program. This situation is driving provider consolidation that limits patient choice not just in access to physicians, but in the type of care those remaining physicians can provide.