August 4, 2022
Recently SNMMI—with more than 100 medical societies and various industry groups—espoused its support in two letters for averting cuts to the Medicare Physician Fee Schedule (MPFS) Proposed Rule. The letters urged House and Senate leadership in committees of jurisdiction (Senate Finance and House Ways & Means and Energy and Commerce Committees) to provide necessary relief before the end of the year until permanent solutions are enacted. Proposed cuts to nuclear medicine amount to 11.4% if no action is taken.
The provisions included in the “Protecting Medicare and American Farmers from Sequester Cuts Act” (enacted in December 2021) provided a 3 percent positive adjustment to the conversion factor to partially offset a payment reduction in the MPFS and an additional 4 percent Medicare payment reduction due to pay-as-you-go (PAYGO) statutory requirements. These provisions have been critical to increasing financial stability and allowing Medicare clinicians to continue operation.
However, the perennial fight to avoid catastrophic damage to clinicians’ ability to provide care has returned again. An approximate 4.5% cut to the conversion factor, in addition to the outstanding threat of the 4% PAYGO reduction and end of the 2 percent sequestration moratorium in 2022, further jeopardizes the financial stability and operations of Medicare providers.