Healthcare Finance News December 7, 2021
Medicare spending on physician services totaled $82.9 billion in 2020, down from $95 billion the year prior, data shows.
Medicare physician spending plunged nearly 14% below what had been expected last year due to the effects of COVID-19, which the American Medical Association said is being exacerbated by physician fee schedule cuts of close to 10% taking effect in January.
The American Medical Association and other organizations are advocating for Congress to prevent the 9.7% cut in Medicare payments taking effect next month due to budget neutrality rules. There is currently no legislation on the table to prevent the payment decrease.
The decline in reimbursements for 2020 was $13.9 billion, according to the AMA.
Overall, Medicare spending on physician...
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