In anticipation of the Centers for Medicare and Medicaid (CMS) releasing proposed modifications and updates to Medicare payment rates and policies in the coming weeks, it is crucial to understand the ramifications of these changes. It is no secret that the Medicare physician fee schedule "has not kept up with the times," and, in fact, has not been updated according to inflation in over a decade. While these issues alone are significant, they also are contributors to other healthcare issues.  

One pressing issue is the growing physician shortage. As the population ages, the demand for physicians increases, yet there are not enough physicians to meet this need. This shortage is closely tied to the Medicare physician fee schedule, as most elderly patients are insured by Medicare. If CMS continues to implement cuts to the Medicare physician fee schedule, physicians may be forced to stop providing care to Medicare patients, and some may ultimately leave the profession altogether.  

To address the physician shortage before it escalates, positive reform of the Medicare physician fee schedule is essential. Without such changes, patients will face increasing difficulty in accessing high-quality healthcare promptly as the physician shortage worsens. By enacting meaningful updates, we can help ensure that patients receive the care they need and protect the business of healthcare for all.