Today, Secretary Geithner informed Congress that the United States would hit the debt ceiling limit on Monday, December 31st. The following day, absent successful Congressional intervention, Physicians will incur a twenty-six and half percent (26.5%) reduction in Medicare Reimbursement. And yet one day later on January 2nd, if Congress fails to address the “fiscal cliff”, healthcare providers will incur a two percent (2%) reduction in Medicare payments. The two percent (2%) decrease is projected to save over $11 Billion from the Medicare program in 2013 alone. So while many Americans are focused upon the potential increase in taxes, healthcare providers must evaluate how to address these dramatic pay cuts.
Each year, physicians demand for Congress to correct the Medicare Sustainable Growth Rate (“SGR”) to prevent this significant decrease in Medicare reimbursement. Each year, the physicians have successfully obtained a delay in the implementation of the payment