The Medical Group Management Association has submitted a letter to the Senate Finance Committee regarding its April 11 hearing on Medicare physician payments, demanding reform.
The MGMA has more than 60,000 medical practice administrators, executives and leaders and more than 15,000 group medical practices ranging from small private medical practices to large national health systems and more than 350,000 physician members, according to the April 10 letter.
"Significant reforms are needed to the Medicare physician payment system to stop the harmful yearly cuts and support medical groups’ ability to offer high-quality care to patients with chronic conditions," the letter, addressed to Senate Finance Chairman Ron Wyden and ranking member Sen. Mike Crapo, reads.
CMS finalized a 3.37% cut to its Medicare conversion factor for 2024, which has thousands of physicians, systems and advocacy groups concerned. In the letter, the MGMA outlines four key recommendations for the committee to consider.
The four recommendations include:
1. Pass legislation to implement an annual inflation-based physician payment update so that physician wages and pay rates keep up with inflation every year.
2. Reform the budget neutrality provision of the Medicare Part B payment system to avoid continued payment cuts, which harm medical groups’ financial viability.
3. Pass the Chronic Care Management Improvement Act of 2023 to ensure Medicare patients with chronic conditions can always access quality care.
4. Provide positive financial incentives to support practices transitioning into value-based care.