A 2 percent reduction to all Medicare reimbursement and a 27 percent cut to Medicare physician reimbursement rates under the sustainable growth rate (SGR) formula likely will not happen, according to White House and congressional officials, American Medical News reports.
The 2 percent cuts involves about $1 trillion in across-the-board ‘sequester’ cuts, including a 2 percent reduction to all Medicare reimbursement rates in 2013. Hospital, nurse and physician groups have warned that the sequester’s cuts could result in as many as 500,000 jobs lost in the health care sector and missed opportunities for new hires in 2013. Meanwhile, a 27% SGR reduction to the Medicare physician reimbursement rate is scheduled to take effect January 1, 2013.
Representative Phil Roe (R-Tenn.) has said that most members of Congress expect to approve a short-term fix to the SGR after they return to Capitol Hill for the lame duck session on November 13.
