The Centers for Medicare and Medicaid Services (CMS) said it will cut physician reimbursement rates by 4.3 percent on Monday. CMS said the cuts are necessary because of recent increases in overall Medicare spending. Under US law, payments to physicians and other healthcare providers must be adjusted downward to help control spending as the program's overall costs increase. The announcement had been anticipated by doctors groups, which have warned that many doctors may reduce the number of Medicare patients they see as a result.
The American Medical Association said last week that it thinks the cuts are just the first in a series of financial sacrifices that doctors will be asked to make by the government. Expect to hear much more about this before the rulings are finalized in November.
- see this story from the AP