September 21, 2022: MGMA statement on Medicare payment reduction findings

FOR IMMEDIATE RELEASE:
September 21, 2022

Media Contact:
Emily Dowsett
Associate Director, Public Affairs
edowsett@mgma.com

 
MGMA statement on Medicare payment reduction findings

Anders Gilberg
Senior Vice President, Government Affairs
Medical Group Management Association

“MGMA’s latest findings offer an alarming look into the projected impact of the impending 8.5% cut to Medicare rates in 2023. With more than 500 medical groups of all sizes and specialties from across the country responding to the questionnaire, this data offers a unique perspective into the real-world consequences such dramatic physician payment cuts would have on physician practices’ ability to treat patients.

In anticipation of these reductions to Medicare payment and to ensure the financial solvency of their operations, over half of medical groups report they are considering limiting the number of new Medicare patients served. Additionally, practices report being forced to consider options such as reducing their number of clinical staff, closing satellite offices, or even selling their practice due to insufficient revenue streams.

MGMA urges Congress to act expeditiously to prevent the looming 2023 Medicare physician payment crisis. In addition to offsetting the proposed 4.42% cut to the Medicare physician conversion factor and addressing the 4% statutory Pay-As-You-Go (PAYGO) sequester, MGMA is also advocating for an inflationary update based on the Medicare Economic Index (MEI), which would afford medical groups the critical financial stability to ensure our nation’s seniors have unobstructed access to the high-quality healthcare they deserve.”

###