New Survey Data Illustrates Bleak Outlook For Office-Based Specialists Due to MPFS Cuts
Multi-societal survey reveals true impact of CMS-directed cuts
Washington, DC — Today, six different medical societies released the results of a detailed survey to assess the frontline impact of ongoing cuts to out-patient interventional practices.
Together, the Outpatient Endovascular and Interventional Society (OEIS), the American Vein & Lymphatic Society (AVLS), the Society of Interventional Radiology (SIR), the Society for Vascular Surgery (SVS), the Society for Cardiovascular Angiography & Interventions (SCAI), and the American Venous Forum (AVF) surveyed a broad range of physicians to measure their experience with Medicare reimbursement reductions and the impact of the COVID-19 pandemic on their practice.
The data reveals that an overwhelming majority of doctors are being negatively impacted by recent changes to the Medicare Physician Fee Schedule and that many providers are planning to close their doors over the next two years. Under the cloud of a national healthcare consolidation trend, these numbers underscore how devastating insufficient Medicare payments are for America’s health system.
94% of respondents say that recent changes to the Medicare Physician Fee Schedule are having a negative impact on their practice.
65% said Medicare changes are having a “very negative” impact on their practice.
26% of doctors said that they are “likely” or “very likely” to close their practice in the next two years.
43% of survey respondents said they were likely to retire in the next two years.
John Blebea, MD, MBA, an OEIS and AVLS member, said “These numbers are very concerning. Ongoing cuts to office-based specialists are a worsening problem that must be addressed. While private doctors struggle to keep their doors open to patients and provide access to quality care, a growing number of them are having difficulty making ends meet with continuing cuts in Medicare reimbursements. Doctors are being forced to retire or close their practice because of the financial challenges, particularly with ongoing inflation and increasing salary requirements for staff and medical supplies. If this trend continues, it will be patients who will ultimately pay the price for year-over-year cuts to the MPFS and continuing health care consolidation through increased out of pocket co-payments and loss of access to care.”
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