President Obama Signs the American Taxpayer Relief Act of 2012: New Law Includes Physician Update Fix through December 2013
On Wednesday, January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012. This new law prevents a scheduled payment cut for physicians and other practitioners who treat Medicare patients from taking effect on January 1, 2013. The new law provides for a zero percent update for such services through December 31, 2013.
This avoided a 26.5% reduction in Medicare reimbursements. This is a pretty big deal!
By saving reimbursement dollars for physicians, there will be some reductions for hospitals. We are unsure of exactly what the reductions are for hospitals. Most likely this will still affect reimbursement rates for some procedures.
All this being said, physicians and hospitals still face a degree of uncertainly.
Please share with appropriate staff.