KevinMD August 7, 2022
It’s hard to concisely put into words how frustrated physicians are right now. How many other professional groups out there have to fight to not have their compensation cut multiple times a year? Recently, CMS released its proposed physician fee schedule for Medicare for 2023, which reduces the conversion factor by 4.42%. This compounds upon additional cuts such as the resumption of a 2% Medicare payment cut that went into effect July 1.
With the inflation rate at a 40-year high and the most recent CPI at 9.1%, these cuts are particularly upsetting. The costs of running a medical practice are rising rapidly as the cost of services, supplies, rent, and staffing rise. And, of course, physicians face increased living...
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