In a letter to the bipartisan leadership of the US House and Senate, the Alliance of Specialty Medicine asked Congress to act before the end of the year to address the impending cuts to Medicare physician pay.  The over 9% in scheduled payment cuts are due to a confluence of three major factors including a 2% cut Medicare sequestration cut, a statutory 4% “PAYGO” cut triggered by the passage and cost of the American Rescue Plan earlier in the year, and finally, the 3.75% cuts coming to physicians in the CY 2021 Medicare Physician Fee Schedule (MPFS) payments because of the budget neutrality cuts resulting from changes to the codes for office and outpatient evaluation and management services.  Congress had passed a measure to stave of the MPFS cuts, but that measure will expire in January 2022, right when the other cuts will also kick in.  Separate and collectively, these cuts will have a profound effect on physician practices still dealing with the financial implications of COVID-19.

Click here to read the letter.