Despite industry concern that the reimbursement outlined in the Sustainable Growth Rate formula repeal law isn't enough to keep up with costs over time, medical groups cheered the Medicare Access and CHIP Reauthorization Act.
President Barack Obama made it official and permanently repealed the sustainable growth rate formula by signing a bill passed by the Senate earlier in the week, the Associated Press reports.
While providers and industry groups hailed Tuesday's long-awaited repeal of the controversial Sustainable Growth Rate formula, some doctors who treat Medicare patients will still see the 21 percent reimbursement cuts that the Senate's last-minute vote was intended to avoid, The Hill reports.
While early reaction from the health IT community to the sustainable growth rate bill passed overwhelmingly by the Senate late Tuesday has been fairly positive, questions remain about what lies ahead for providers, Congress and federal agencies.
Mere hours after the Senate pulled off a last-minute repeal of the long-problematic Sustainable Growth Rate formula, panelists at a forum hosted by the National Coalition on Health Care made it clear that while the "doc fix" bill represents a major step forward, it is only one piece of the healthcare reform puzzle.
Physicians and healthcare industry leaders hailed last night's historic Senate vote to repeal the much-hated, flawed sustainable growth rate formula, a move many believe will allow more providers to take part in new delivery models that reward value and boost coordinated, high-quality care.
The Senate Tuesday night overwhelmingly passed a bill to do away with the controversial Sustainable Growth Rate formula, a mechanism used to calculate Medicare payments to physicians.
The Senate is expected today to take up several amendments to a bill that includes a provision to permanently repeal the Sustainable Growth Rate, a measure passed late last month by the House. However, a new report from the Centers for Medicare & Medicaid Services adds to the chorus of reservations in recent weeks about the agreement hailed as a rare bipartisan solution.
After a permanent repeal of the sustainable growth rate formula passed the House of Representatives in late March, the measure's backers in the Senate work to quell a potential revolt from Senate conservatives over its $214 billion price tag, according to Reuters.
The bill pending in Congress that would repeal and replace the Sustainable Growth Rate payment formula for physicians is coming under fire for its ambiguity.