The Provider Reimbursement Stability Act (H.R. 8163), bipartisan legislation supported by your Academy and numerous physician organizations, recently advanced unanimously through the U.S. House Committee on Ways and Means.
The bill would provide certainty to physicians and patients, implementing much needed updates to the Medicare physician payment system. Among other provisions, this legislation would:
- Increase the budget neutrality threshold from $20 million to $54.3 million
- Index the threshold to the cumulative percentage increase in the MEI every five years
- Provide for budget neutrality corrections related to the estimated utilization of codes and updates to direct costs used to calculate practice expense relative value units (RVUs) not less often than every 5 years
- Limit year-to-year variance in the conversion factor by 2.5%
Your Academy has long prioritized advocating for reforming reimbursement policy for physicians under the Medicare Physician Fee Schedule, both to provide stability and fair payment for physicians and to ensure continued access to care for Medicare patients. Advancing payment reform was also a focus of the Academy’s recent Hill Day, you can click here to learn more about the Academy’s recent advocacy in Washington, DC.
Please take two minutes today to contact your federal representatives and urge Congress to pass the Provider Reimbursement Stability Act and provide certainty to Medicare beneficiaries and physicians.