New Medicare Guidelines for Doctor Payments is Complete
The final Medicare physician fee schedule for 2009 is complete. Doctors are breathing a sigh of release knowing that many of them can now move forward and secure their salary and maybe even a raise for next year's work.
In July legislation reversed a 10.6% cut that took effect at the beginning of that month. Starting in January 2009, a 1.1% across-the-board increase will replace an additional roughly 5% cut that would have gone into effect if lawmakers had not acted, the Centers for Medicare & Medicaid Services said in the final pay rule issued Oct. 30.
"Medicare's new rule confirms that physicians caring for seniors would have faced a harsh payment cut of 15.1% next year if Congress had not stepped in," said American Medical Association President-elect J. James Rohack, MD.
The upcoming 1.1% boost is less than the CMS-projected 1.6% increase in the cost to physicians of providing care next year. Payment freezes and increases in recent years also have come in under the rise in costs. There are two bonus opportunities exist to more than quadruple the raise that doctors will get for the year.
Physicians who successfully participate in the Physician Quality Reporting Initiative will receive a 2% bonus on all of their Medicare payments for the year. Also, the program for the first time will award a separate 2% bonus to physicians who successfully prescribe medications electronically for their Medicare patients. This has been an issue on the table for quite some time and it is now a real possibility.
Bonuses will not be paid out until 2010 when all the bills are added up and the books are balanced, but they should result in about a 5% or more raise for doctors rather than doctors having to lose money and not be able to continue to serve their patients. The E prescription process is important so that there are less mistakes and less potential health complications to patients.
If you are on Medicare, you can breathe a sigh of relief. This new way of doing business will help you remain with your doctor, and help them remain in business.
