ACT Now! Prevent Looming Cuts to Medicare Reimbursement
Medicare providers face another round of significant payment cuts if Congress does not act prior to January 1, 2023. The CY23 Medicare Physician Fee Schedule (MPFS) proposed rule jeopardizes the financial stability of many physician practices by proposing to cut the Medicare conversion factor by approximately 4.5%. These cuts, combined with the pending threat of the 4% PAYGO reduction and the termination of the 2% sequestration moratorium in July 2022, result in a nearly 10% reduction.
It is vital that Congress take the following action to address the proposed cuts:
- Provide at least a 4.42% conversion factor adjustment for 2023, by passing the Supporting Medicare Providers Act of 2022 (H.R. 8800)
- Waive the 4% statutory PAYGO requirement
- Eliminate the 2% sequestration cuts to Part B
- Provide a one-year inflationary update based on the Medicare Economic Index
Please contact your lawmakers today and urge them to act on pending Medicare physician reimbursement cuts before the end of the year.
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