In Congress, there is an opportunity now to address the financial instability that Medicare physician payment policies will bring to practices throughout the nation, and specifically here in Rhode Island, next year. Partnering with the AMA and numerous state medical societies and specialty groups, RIMS signed on to a letter that asked Congress to do the following prior to scheduled Medicare payment cuts taking effect in 2023. The letter requested the following of Congress:
- Extend the Congressionally enacted 3 percent temporary increase in the Medicare physician fee schedule that was intended to offset budget neutrality adjustments for new office visit policies.
- Provide relief for an additional 1.42 percent budget neutrality cut that is planned for 2023 to offset new facility visit policies.
- End the statutory annual freeze and provide an inflation-based update for the coming year.
- Prevent a scheduled 5 percent payment cut for Advanced Alternative Payment Models (APMs) and the corresponding impossible-to-meet revenue threshold increase at the end of 2022.
- Waive the 4 percent PAYGO sequester triggered by passage of the American Rescue Plan Act.
To view this letter, please click here.