Joco Today

U.S. Senators Roger Marshall, M.D. (R-KS), John Boozman (R-AR), Peter Welch (D-VT), Thom Tillis (R-NC), Angus King (I-ME), and Jeanne Shaheen (D-NH) have introduced the Physician Fee Stabilization Act to reform Medicare’s physician fee schedule.

The legislation proposes increasing the budget neutrality threshold to $53 million with adjustments every five years in line with the Medicare Economic Index. This change aims to provide flexibility in pricing adjustments for services without causing annual payment cuts to physicians serving Medicare patients. The budget neutrality threshold was last updated in 1992.

“This legislation is a great step forward to provide stability for physicians serving our most vulnerable populations,” Marshall stated. “Medicare payment changes have been severely impacting doctors in rural Kansas and nationwide since I was practicing. It’s time to implement meaningful reforms.”

Boozman emphasized the importance of fair compensation for physicians: “Ensuring physicians are fairly compensated for their work will help deliver stability to providers so they continue to meet the needs of their communities.”

Welch highlighted the bill's significance for Vermont: “This commonsense, bipartisan bill updates an outdated, decades-old policy that triggers harmful cuts to provider payments.”

Tillis pointed out the impact on North Carolina: “Year after year, we’ve seen consistent Medicare reimbursement cuts to physicians that adversely impact access to care and patient outcomes.”

King stressed the importance of accessible healthcare in Maine: “The Physician Fee Stabilization Act would ensure that Medicare providers are adequately paid so that they can continue to offer their full range of services.”

Shaheen noted the necessity for Granite Staters: “This bipartisan bill would make sure physicians are fairly compensated and guarantee adequate reimbursement for providers.”

The Physician Fee Stabilization Act has garnered support from various national health organizations, including the American Medical Association, American Academy of Dermatology, American Optometric Association, Society of Thoracic Surgeons, American College of Surgeons, American Osteopathic Association, National Rural Health Association, among others.

In February, Boozman and Welch led an effort resulting in mitigating a drastic cut in reimbursement rates for providers treating Medicare patients.