Medicare providers stand to lose more than $36 billion in reimbursements next year, a fate that looks more likely after Congressional leaders failed to stop slated cuts as part of a spending deal last week.
A short-term government funding bill passed by Congress on Thursday and signed by President Joe Biden (D) on Friday keeps the government operating through Feb. 18. But to get the bill passed, Democrats dropped plans to avert looming cuts to Medicare over objections from Republicans.
Industry stakeholders have pushed Congress to address a soon-ending moratorium on the 2% sequestration of Medicare payments, automatic cuts to the Medicare program under an anti-deficit provision known as PAYGO and scheduled Medicare Physician Fee cuts.
“Nursing facility patients are facing multiple cuts to their Part B services,” explained Cynthia Morton, executive vice president of the National Association for the Support of Long Term Care. “Plus, 2% sequestration goes back into effect and we don’t know if Congress will waive PAYGO as they have continued to do in the past, which is a 4% cut. Our sector has been hit so hard with COVID, and these reductions just make it ever more difficult in an already very difficult environment.”…(continued)