JACKSON, Mich.--(BUSINESS WIRE)-- You already know that last week’s debt ceiling legislation, “The Budget Control Act of 2011” (S. 365), authorized $2.4 trillion in additional government borrowing, did not raise any new revenues and provided for $2.5 trillion in spending cuts over the next ten years.
The best news for anesthesiologists is that the passage of the bill prevented the U.S. Treasury from defaulting on its debts. Most economists agree that the consequences of a default could have been catastrophic – although it’s hard to see the consequences of the new law, a stock sell-off that as of Monday had brought had resulted in the steepest losses since 2008.
Unfortunately, like all physicians, anesthesiologists also face the prospect of a formula-driven 25%-30% cut in Medicare payments starting January 1, 2012, unless Congress fixes the formula.
ABC has investigated the situation and our thoughts on the effect of the Debt Ceiling Deal on Anesthesiologist can be read these in full at (http://www.anesthesiallc.com/publications/ealerts/268-the-debt-ceiling-deal-contains-little-for-anesthesiologists-to-like). The full e-Alert discusses mechanisms for achieving the Budget Control Act and its effects on Physicians; lobbying efforts vis-a-vis the “Super Committee,” the effect on Medicare, and an expected income surge for physicians as a result of the Affordable Care Act.
We continue to believe that the anesthesia groups that can add value by taking on expanded responsibilities in perioperative care and OR management will do well in the new environment. We will continue providing our readers with information on how anesthesiologists can be leaders in clinical and financial integration as we move forward.
About Anesthesia Business Consultants
ABC, established in 1979, is one of the largest billing and practice management companies dedicated to the complex and intricate specialty of anesthesia and pain management. It is both an American Society of Anesthesiologists Practice Management Supporter, and an Anesthesia Quality Institute Preferred Vendor. ABC employs industry leaders, operates under proven efficient processes, and utilizes technology advances to easily adapt to the ever-changing regulatory environment.
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Anesthesia Business Consultants
Tony Mira, 517-787-6440
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