HealthLeaders Media September 29, 2022
A survey of physicians reveals the potential ramifications of the impending 8.5% slashing of Medicare rates in 2023.
Many providers are considering reducing or eliminating the number of Medicare beneficiaries served to offset looming Medicare payment cuts, according to a survey conducted by the Medical Group Management Association (MGMA).
Respondents to the survey, comprised of 517 medical group practices across 45 states, ranging in size from small single provider practices to large health systems with 2,400 physicians, revealed what business decisions they may make in response to the Medicare rate change.
As part of the 2023 Medicare Physician Fee Schedule proposed rule, practices are facing a 4.5% reduction to the Medicare conversion factor and a 4% Pay-As-You-Go sequester, resulting in...