Earlier this month, U.S Sen. John Boozman, R-Arkansas, helped introduce the Physician Fee Stabilization Act, which would adjust the reimbursement rate for Medicare.
The legislation would increase the budget neutrality threshold to $53 million with an increase every five years to keep pace with the Medicare Economic Index, according to a press release. In an interview with Arkies in the Beltway, Boozman pointed to changes in the economy for needing this adjustment.
“Medicare, by law, has a finite amount of money that it can pay out to providers. Like everything else, inflation doesn’t make it work anymore,” he said. “The world is totally different now then it was in the 1990s, as far as costs.”
According to Boozman’s office, the legislation has support from senators from both parties.
Copyright 2024 KUAR