|Medicare is scheduled to make a significant reduction in Medicare rates in 2021. All Medicare provider groups are forming a coalition to block these scheduled cuts and there are things that you may do. Several members of the House introduced H.R. 8702, the Holding Providers Harmless from Medicare Cuts During COVID-19 Act. This comprehensive bill has wide support in Congress and among Medicare providers. H.R. 8702, through what is known as a âhold harmlessâ approach, would ensure that payments to Medicare providers, including chiropractors, remain at current levels through 2022.
Note many payer groups use formulas based on Medicare rates including the VA and workersâ compensation. Rate reductions to Medicare will not only affect Medicare but many payment formulas.
This critical legislation recognizes the importance of allowing significant scheduled pay increases to primary care and others who primarily provide E/M services to take effect while also avoiding the devastating corresponding cuts for physician and non-physician providers that will occur because of Medicareâs budget neutrality requirements. Given the ongoing COVID-19 pandemic, it is more important than ever to halt the implementation of any payment reductions that will further exacerbate the financial instability of health care providers, especially doctors of chiropractic.
Â Take a moment today to send a letter to your local congressperson and urge them to co-sponsor this critical legislation. Use this link to find your local congressperson
For services on or after July 1, 2022, the reduction will increase to 2%. Which makes the reductions 60 cents to $1 approximately. The sequestration does not affect Medicare Advantage payments or VA payments. Though Read more…