HYDE-SMITH SIGNS ONTO BILL TO PROTECT SENIORS’ ACCESS TO HEALTH CARE
Physician Fee Stabilization Act is Bipartisan Effort to Reform Medicare Physician Fee Schedule, Benefit Rural States
WASHINGTON, D.C. – U.S. Senator Cindy Hyde-Smith (R-Miss.) this week cosponsored a bipartisan effort to update and reform the Medicare physician fee schedule in order to assure seniors’ access to health care services, particularly for those living in rural states like Mississippi.
The Physician Fee Stabilization Act (S.4935) aims to address declining Medicare physician reimbursements by increasing a 32-year-old budget neutrality threshold to essentially keep pace with inflation. Declining Medicare physician reimbursement disproportionately affects small, independent, and rural practices.
“Improving rural healthcare has been a priority for me since I was elected. Unfortunately, that job is made harder because some doctors are becoming reluctant to accept Medicare patients because the federal reimbursement rates aren’t keeping up with inflation and are often subject to cuts,” Hyde-Smith said. “The Physician Fee Stabilization Act is a practical way to stabilize fee structures and finally update a Medicare formula that hasn’t been changed since 1992.”
S.4935 would ensure greater flexibility in determining pricing adjustments for Medicare services without triggering harmful annual payment cuts to Medicare-serving physicians. The bill also includes provisions that authorize an increase in the budget neutrality threshold every five years to ensure future physician compensation payments with the Medicare Economic Index.
“Medicare patients must have access to quality health services. Ensuring physicians are fairly compensated for their work will help deliver stability to providers so they continue to meet the needs of their communities. I’m proud to lead this bipartisan solution that enhances Medicare’s sustainability,” said U.S. Senator John Boozman (R-Ark.), who introduced the bill.
The Mississippi State Medical Association, National Rural Health Association, American Medical Association, American College of Physicians, and American Academy of Family Physicians are among the many health organizations that support the Physician Fee Stabilization Act.
Additional cosponsors include Peter Welch (D-Vt.), Thom Tillis (R-N.C.), Angus King (I-Maine), Roger Marshall, M.D. (R-Kan.), Jeanne Shaheen (D-N.H.), Raphael Warnock (D-Ga.), and Jacky Rosen (D-Nev.).
Hyde-Smith serves on the Senate Labor, Health and Humans Services, and Education Appropriations Subcommittee and has worked to advance health issues throughout her tenure in the Senate.
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