However, keeping the current payment rates in place for a decade would cost more than the bipartisan deal. The CBO estimates that enacting the bill would cost $900 million less over the next 10 years than freezing payment rates for physicians’ services.
The CBO said there is uncertainty in the projection in the decade after 2025, but the likely result is “small net savings.”
The CBO’s findings were released at a crucial time, as physicians will see a 21 percent cut to their Medicare payments April 1 under the SGR if congressional action isn’t taken by the end of the month.
On Wednesday, President Barack Obama offered his support for repealing the SGR. “I have my pen ready to sign a good bipartisan bill,” he said, according to an Associated Press report. And the Obama administration subsequently issued a Statement of Administration Policy in favor of the bill.
More articles on healthcare finance:
Hospitals urge Congress to maintain support for 340B program
AHA voices support for permanent ‘doc fix’ bill
Fee-for-service vs. value-based care: 6 points of debate raised by health policy experts
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