• 48. It Is Time For A Permanent Physician Rate Fix In Medicare

  • Nov 8 2024
  • Length: 24 mins
  • Podcast

48. It Is Time For A Permanent Physician Rate Fix In Medicare

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  • Summary

  • A physician rate fix has been put off for decades and has devastated primary care and physician practices. It is time for a permanent fix to be passed by Congress.

    About The Podcast:
     Millions of Americans feel confused and frustrated in their search for quality healthcare coverage.

    Between out-of-control costs, countless inefficiencies, a lack of affordable universal access, and little focus on wellness and prevention, the system is clearly in dire need of change.

    Hosted by healthcare policy and technology expert Marc S. Ryan, the Healthcare Labyrinth Podcast offers accessible, incisive deep dives on the most pressing issues and events in American healthcare.

    Marc seeks to help Americans become wiser consumers and navigate the healthcare maze with more confidence and certainty through The Healthcare Labyrinth website and his book of the same name.

    Marc is an unconventional Republican who believes that affordable universal access is a wise and prudent investment. He recommends common-sense solutions to reform American healthcare.

    Tune in every week as Marc examines the latest developments in the space, offering analysis, insights, and predictions on the changing state of healthcare in America.

    About The Episode:
     On this episode, Marc argues that a physician rate fix has been put off for decades and has devastated primary care and physician practices. It is time for a permanent fix to be passed by Congress.

    Key Takeaways:

    A physician rate fix has been put off for far too long in Congress.

    Physicians have been on a rate roller coaster for decades.

    Physicians were subjected to huge reductions in their rates and then temporary fixes.

    Over the past decades, rates on a real basis (against inflation) have dropped by 26% from 2001 to 2023.

    The rate crisis in Medicare for doctors has led to the acquisition of 75% of all physicians by health systems, private equity, or health plans. Just 25% remain in private practice and the erosion continues.

    The erosion of independent practices has led to huge new costs in the healthcare system that dwarf what could have been put into physician rates over the years.

    A permanent doc fix could be paid in part by implementing site neutral payments in full in Medicare.

    A permanent fix is needed as well as investments in primary care.

    Other developed countries spend more than double what America does on primary care.

    Connect with Marc
     Marc on LinkedIn Marc on Twitter THL Podcast
    Resources
     THL’s Newsfeed THL’s Blog The Healthcare Labyrinth: A Guide to Navigating Health Plans and Fixing American Health Insurance
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