The American Medical Association (AMA) has welcomed the recent focus of the Medicare Payment Advisory Commission (MedPAC) on the challenges facing physician practices within the Medicare payment system. According to the AMA, MedPAC's discussion highlighted the concerns regarding declining Medicare payments and the impact on beneficiary access to care.
In response to MedPAC's comments, the AMA has urged Congress to continue the conversation on the need for Medicare reform. The AMA expressed agreement with MedPAC's observation that the Medicare Economic Index has been outpacing fee schedule updates, leading to patient access issues and threatening physicians' ability to practice independently.
The AMA emphasized the significant decline in Medicare physician payment over the years, with adjustments for inflation in practice costs. Despite MedPAC's recommendations for payment updates in response to rising costs, physicians have faced cuts instead. The AMA is hopeful that Congressional leaders will put an end to these cuts and patches, advocating for the passage of the Strengthening Medicare for Patients and Providers Act (HR 2474) and linking future updates to the full Medicare Economic Index.
Looking ahead, the AMA anticipates a collaborative effort to address the challenges within the Medicare system and work towards meaningful reform.
