Fierce Health Payers December 3, 2021
Medicare physician spending dropped by a massive 14% below expected levels in 2020 due to the COVID-19 pandemic, resulting in a $13.9 billion decline in reimbursements.
The study, released by the American Medical Association (AMA) Thursday, found that even though volumes rebounded in the middle of the year, spending remained well below pre-pandemic levels. The doctor group warned that the financial repercussions of the pandemic are lingering.
“Medical practices that have not buckled under financial strain continue to be stretched clinically, emotionally and fiscally as the pandemic persists,” said AMA President Gerald Harmon in a statement.
AMA’s analysis of Medicare physician fee service claims found that while all specialties were hit, some had more severe spending declines.
For example, evaluation...