As July approaches, the healthcare community is once again bracing itself for significant, scheduled Medicare reimbursement cuts. Those who have been following the news or reading this blog for more than one year will agree with Yogi Berra that “it’s like déjà vu all over again.”
Unless congress is able to intervene, Medicare physician reimbursements will be reduced by 10.6 percent on July 1st. Thereafter, reimbursements will be slashed another 5 percent as of January 1, 2009.
Save Medicare Act of 2008 (#S. 2785) represents one of the many bipartisan efforts to stop (or at least stall) the impending reimbursement cuts. The bill would not only replace the scheduled cuts, but would increase existing reimbursement levels by 1.8% in 2009. Moreover, the bill would extend the present Physician Quality Reporting Initiative (sometimes referred to as PQRI), with its associated bonuses, through 2010.
We’ll continue to follow the progress of the Save Medicare Act of 2008 and other similar efforts. Please check back as we will be continuing to provide updates regarding the status of the scheduled Medicare cuts.
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