'This constant cutting of Medicare rates, which has been going on for years, makes it hard for practices to make ends meet.' MedTwitter
, gas prices were up 43.6%, while prices for medical care rose just 3.2% over past year.
Even without accounting for inflation, Medicare reimbursements for doctors are at the same level as two decades ago. The Medicare conversion factor, a multiplier used to convert relative value units into the reimbursement amount, stood at $36.69 in 1998, and this year it stands at $34.
Through his value-based activities, Larkin had hoped to qualify for Medicare's APM program, which would have rewarded him a 5% bonus. To qualify, however, he would have needed to have received at least 50% of his Medicare payments or to have 35% of his Medicare patients on a qualifying APM, but Larkin said not enough Medicare programs are available to reach that level.
"Budget neutrality can have the effect of pitting physicians against each other," Parekh said."But all doctors' groups are united in their belief that budget neutrality must end."CMS sets Medicare reimbursement each year, but Congress has been adding reductions to the CMS cuts. CMS has proposed a 4.42% cut for physicians in 2023, but the expected cut is actually 8.42% because an automatic 4% cut goes into effect when federal spending reaches a certain level.
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