We done this three times already in 2010 but the 21.29% cut in the Medicare Physicians' Fee Schedule is again scheduled to go into effect on June 1.
To prevent the cut, The American Jobs and Closing Tax Loopholes Act of 2010 (the 'Doc Fix') (HR 4213) is scheduled for a vote this week.
Dr. James Rohan, President of the American Medical Association, explains and defends the 'Doc Fix' in this C-Span video.
Passing HR 4213 will cost more money. The Doc Fix will...
...increase budget deficits by about $115 billion for fiscal years 2010 and 2011 and by about $84 billion over the 2010-2015 and 2010-2020 periods...Dr. Rohan's position is that current Medicare rates are 20% under a break even cost to keep our offices open.
HR 4213 proposes a 3.5 year payment increase, so long as cost growth on services doesn't grow too much.
After 2013, payments will update consistent with the current law. That means in 2014 doctors and private practice physical therapists will see a dramatic 30% reduction in payments.