The ongoing decline in Medicare physician reimbursement rates poses a critical challenge for physicians across the country. The proposed 2025 Medicare Physician Fee Schedule (MPFS) includes a 2.8 percent reduction to the conversion factor used to calculate physician payments, marking the fifth consecutive year of cuts. Despite rising healthcare costs and inflation, Medicare physician payments have dropped nearly 29 percent since 2001, when adjusted for inflation, making it increasingly difficult for physicians to continue to provide high quality care to patients while working hard to keep their practices open due to financial struggles. 

As costs for labor and other operational expenses continue to rise, physicians face financial pressures that could directly affect patient care. Reimbursement rates must be updated properly, adjusted for inflation, to ensure that high quality healthcare remains accessible for all. 

Medicare reimbursement rates are at a tipping point; voting down the ballot this year is more important than ever. Voting for leaders who understand the MPFS, the physician shortage, and the financial burdens on healthcare practices is key to addressing these challenges. Legislative changes to the MPFS, and other necessary reforms, depend on informed voters. To learn more about the challenges physicians face, check out our white paper. As you prepare for the 2024 general election, visit our Election Center for ballot information and polling locations.