On November 29, 2010, U.S. House agreed to the one-month extension of the current Medicare Physician Fee Schedule previously passed by the U.S. Senate. The bill averts the more than 21% cut to Medicare reimbursement and continues the 2.2% increase through December 31, 2010. This short-term extension was agreed-to in the hopes that Congress can develop a more permanent solution to the flawed Sustainable Growth Rate (SGR) formula. Members of Congress are working to produce a longer-term solution prior to their adjournment.
If Congress does not pass additional legislation by the end of December, all Medicare providers will face a nearly 25% cut to reimbursement beginning January 1, 2011.
Contact your member of Congress and ask him or her to pass legislation implementing a long-term fix to the flawed SGR formula.
For the most up to date billing information and any questions you may have, contact your Medicare Administrative Contractor.