Under final rules issued by the CMS late Friday, physicians could see all Medicare payments cut by roughly 21% in April if the Medicare sustainable growth rate formula cuts are allowed to take effect.
Under the rule, the Medicare sustainable growth rate formula — a payment policy that has forced Congress to repeatedly intercede to avoid major cuts to physician payment—would slash reimbursement to doctors by 21.1% as of April 1.
The rule also affects reporting of manufacturers’ payments to physicians under the Sunshine Act. Friday’s rule finalized the elimination of the exemption for reporting indirect manufacturers’ payments to physicians for continuing medical education participation.
According to the CMS, applicable manufacturers and group purchasing organizations now will be required to report compensation provided to physician speakers at continuing education events, unless the payment or other transfer of value is specifically excluded.
Source: Melanie Evans, Modern Healthcare [10/31/14]