With just 28 days until the 2024 general election, the stakes for the healthcare industry and physicians are high. Medicare reimbursement rates are at a tipping point; this year’s cuts would mark the fifth consecutive year of declining Medicare reimbursement rates, while the operational costs of running a healthcare practice have surged by 47 percent, according to the Medicare Economic Index (MEI). Additionally, Medicare reimbursement has declined by 29 percent since 2001 when adjusted for inflation. Without fair compensation, the looming physician shortage – projected to reach 86,000 by 2036 – will only accelerate, putting patient access to care at risk. Voting down the ballot is more important than ever – electing leaders who understand the complexities of the Medicare Physician Fee Schedule (MPFS) and the financial pressure on physicians is essential.  

As highlighted in previous blog posts, four physicians are retiring from Congress this year: Larry Bucshon (IN), Brad Wenstrup (OH), Michael Burgess (TX), and Drew Ferguson (GA) – all key members of the Congressional Doctors Caucus.  Combined, they leave behind 56 years of healthcare expertise when they retire in January. Their advocacy has shaped critical legislation benefiting both physicians and patients alike. With their departure, it is crucial that their successors are equally committed to addressing the physician shortage and fixing the MPFS. Supporting candidates who prioritize healthcare issues is vital for the future of the healthcare industry.  

What can you do?  

• Make sure you are registered to vote – state registration deadlines are approaching fast.
• Know who is on your ballot and take time to understand where candidates stand on healthcare issues.
• Encourage your colleagues to vote as well and visit our Election Center for the tools you need to prepare.

To dive deeper into these topics, check out our Healthcare Advocacy Toolkit, subscribe to Zotec Answers, and access our Election Center here or by texting ZPVote to 50457.