NEWS: Medicare Providers Potential Cuts In Payment Rates

[GailL1]

NEWS:  POLITICO 11/03/2022 - The health policy Rand Paul and Elizabeth Warren agree on

In a bipartisan letter sent Wednesday, 46 senators — from Sen. Rand Paul (R-Ky.) to Sen. Elizabeth Warren (D-Mass.) — asked leadership to address looming Medicare payment cuts to providers before the new year, when they would take effect.

“It is essential in the coming weeks that we make sure providers have the resources they need to keep their doors open for seniors and families,” the senators wrote.

The letter comes a day after the Centers for Medicare and Medicaid Services released its final rule confirming the cuts, which are required by law.

It took no time for providers to voice concerns about the final rule — in fact, they had been pushing for Congress to act before CMS published its final rule.

Inflation and infections: Providers had already sounded the alarm over their financial futures going into next year.

Inflation and rising labor costs have been a major concern for clinics and hospitals — especially as there are few signs that reimbursements will keep pace with increasing expenses.

lots more at the link ~

You may not understand the what and the why's - but understand that a medical provider has to keep in mind their cost and most specifically - their inflation cost many of which will not come down like labor cost.

Doesn't seem like the appropriate time to cut their rates.  IMO, we do need a longer-term strategy to fix the Medicare Part A Trust Fund financial problems.  

SSA.gov - 2022 Social Security and Medicare Trust Funds - Trustee Report Summary