With the failing of the Senate to repeal a bill that reduces reimbursements for Medicare, a 21% cut on payments to physicians went into effect March 1, 2010. Medicare is notifying their contractors to hold Medicare claims for 10 business days effective today. Claims will begin processing on March 15th with the reduced rates. There is still a chance that Congress may reverse this decision. Stay tuned.
The Senate passed the jobs bill late Tuesday night that includes the postponing of the 21% cut in Medicare reimbursement. Doctors get another 30 days before the Medicare cuts take effect. Hopefully Congress will act and rescind the cuts because doctors are already getting there reimbursements cut by commercial insurance companies.