Becker's Healthcare July 18, 2024
Even before inflation and the finalized pay cut for 2024 are factored in, Medicare physician payment has effectively declined 26% since 2001, according to the American Medical Association.
And the cuts are not likely to stop anytime soon — CMS proposed a 2.8% conversion factor reduction to its 2025 physician fee schedule earlier this month.
Some physicians, particularly in private practice, are dropping Medicare patients to increase profitability as practice costs soar.
This trend is not new. Five years ago, although 71% of physicians who participated in Medscape’s “Physician Compensation Report” for 2018 said they would continue to treat Medicare and Medicaid patients, 16% indicated they were undecided.
But according to Medscape’s 2023 survey, only 65% of...
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