Members of Congress have reached an agreement. This agreement will repeal the sustainable growth rate formula, which is used to determine Medicare reimbursement rates for doctors and physicians.
What are the details?
The agreement allows for a guaranteed annual reimbursement increases of 0.5%, to take place over the next 5 years for Medicare providers. A bipartisan group of two committees in the House and Senate worked to establish a new bill that would repeal the “SGR” and begin to establish a reimbursement system that is focused on value and quality outcomes.
What to expect?
This year’s deadline is March 31, after which Medicare reimbursement rates will drop by about 24% unless the legislation to repeal SGR is enacted.