With three weeks left in the legislative session, 41 senators are urging leaders to prevent a 2.8% physician pay cut set for January 1. This bipartisan push, led by Sens. Boozman and Welch, highlights concerns over the impact on independent practices, especially in rural areas. A similar call from the AMA and a House bill aim to address these cuts and provide a positive payment update for 2025.
The American Medical Association (AMA) has called for stricter oversight of nonprofit hospitals' charity care policies to ensure financial assistance is accessible to eligible patients. The AMA advocates for standardized eligibility criteria, mandatory patient screening for charity care, and penalties for noncompliance, highlighting that many hospitals provide less community benefit than they receive in tax breaks. Additionally, the AMA supports measures to prevent insurers from denying payment for pre-authorized medical services.
The Centers for Medicare and Medicaid Services has finalized a 2.8% payment cut for physicians in the 2025 Medicare Physician Fee Schedule, prompting swift protests from medical groups. They argue that this cut, alongside rising costs, threatens patient care and physician practices, calling for immediate legislative action to avert the reduction. A bipartisan bill aims to eliminate the cut and provide a 4.7% payment update, but time is running out for Congress to act before the cuts take effect on January 1, 2025.
A bipartisan bill introduced in the House aims to prevent a 2.8% Medicare payment cut set for January and provide a 4.7% pay increase for physicians in 2025. The American Medical Association emphasizes the urgent need for action, citing a 29% decline in Medicare reimbursement since 2001, which threatens the viability of medical practices.
Bipartisan legislation introduced in Congress aims to prevent a 2.8% Medicare pay cut in 2025 and provide a 4.73% increase in physician pay, addressing long-standing reimbursement issues. The bill, co-led by several representatives, seeks to support physicians facing financial pressures and ensure access to quality care for Medicare patients. The final Physician Fee Schedule is expected soon, with potential adjustments to the proposed pay raise based on the final conversion factor.
The debt collection industry, bolstered by private-equity investments, opposes a federal proposal to remove medical debts from credit reports, arguing it could lead to increased defaults and reduced revenue for healthcare providers. While proponents believe it would alleviate financial burdens on consumers, critics warn it may result in more lawsuits and hinder lenders' ability to assess borrowers' financial health. The debate highlights the broader issues within the U.S. healthcare system, where rising medical costs have left many Americans with significant debt.
Addressing health inequities could boost the U.S. economy by $2.8 trillion by 2040, with corporate profits rising by $763 billion, according to a Deloitte analysis. The report highlights that disparities cost the economy $320 billion annually, projected to reach $1 trillion if unaddressed, emphasizing the need for systemic changes and technology investments to improve access and outcomes for marginalized populations.
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