Rep. Allyson Schwartz (D-Pa.) and Rep. Joe Heck (R-Nev.) have been praised by the American College of Physicians (ACP) for their bipartisan introduction of the Medicare supplement plans Physician Payment Innovation Act of 2012. The bill is aimed at eradicating the faulty Sustainable Growth Rate (SGR) formula and the confusion brought about by its resulting scheduled cuts.
The SGR cuts is a threat for physicians as it may drivr them out of the Medicare Advantage plan nd TriCare programs, leading to a serious access problems for seniors, disabled persons, and military families. The legislation evens out payments for six years, gives better updates for underestimated primary and coordinated care services, and generates a way for new physician payment models that may help in aligning payment with value to patients in a better way.
Since 2001 every year the Sustainable Growth Rate (SGR) formula, which is employed to establish payments for physicians’ services under Medicare Plan, has threatened to enforce sharp cuts in Medicare payments for care provided to America’s seniors. Though Congress usually acts to prevent payment reduction, the average Medicare payment rate this year is basically the same as it was in 2001. Until Congress acts to fix this flawed payment formula, doctors will face a expected cut of nearly 30 percent on January 1, 2013
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