November 16, 2023: MGMA calls on Congress to avert full 3.37% cut to Medicare reimbursement

November 16, 2023

Dear Majority Leader Schumer, Minority Leader McConnell, Speaker Johnson, and Minority Leader Jeffries:

The undersigned national medical organizations and state medical societies write to strongly urge Congress to quickly pass legislation to stop another impending round of Medicare payment cuts. Absent Congressional intervention, physicians are facing a 3.37 percent payment reduction on January 1, 2024.

The combination of ever-increasing practice costs and long stagnated Medicare payment rates has become unsustainable. When adjusted for inflation in practice costs, Medicare physician pay has declined 26 percent from 2001 to 2023. The Centers for Medicare and Medicaid Services (CMS) recently acknowledged that the cost of running a practice will increase 4.6 percent in 2024, yet physicians are being subjected to a 3.37 percent cut next year.

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