Health Care Thoughts: Here We Go Again – SGR Edition
Health Care Thoughts: Here We Go Again – SGR Edition
Congress has passed a ten month patch of the sustainable growth rate (SGR) formula by which Medicare reimburses physicians. I have lost count, but I believe that is the 11th or 12th year since creation of the formula which has never been put into full effect, being always subject to a short-term patch.
If the cumulative impact of SGR were to go into effect the cuts in reimbursements would average about 30%.
Clearly, we need a permanent fix. We need Medicare reform. Clearly, a fix or reform are not likely anytime soon.
Tom aka Rusty Rustbelt
Stock Market Numerology 2012 – 0221
http://chartistfriendfrompittsburgh.blogspot.com/2012/02/stock-market-numerology-2012-0221.html
go away
A question that continues to gnaw at my addeled brain concerning government efforts to control medical costs is as follows. If government recognizes the destructive effect on the economy of persistently increasing medical costs and makes efforts, even though anemic those efforts maybe, through mechanisms like SGR why are all other industry sectors thought to be off limits to government dictates regarding costs and fees? Why are physician reimbursements subject to over sight if no one else’s reimbursements (read income from what ever source) are subject to any controls other than the market place? That the government pays the lions share via Medicare is not an acceptable answer because it only leads to the question regarding why government support for the expense is acceptable in the first place, but all other expenses are market driven.
Now some may see that as begging the question regarding the appropriateness of government participation in the health care market. In fact, I’m wondering why it is that so many recognize the need for the control of run away pricing, that’s what some people refer to as medical costs, but confine that recognition to the health care sector. Why not regulate just a little further out and limit the acceptable costs of over head, executive pay and profit margin in the health care insurance industry? Why not go beyond that and regulate the income of fee for servicce attorneys and compensation of executives?
Again, Brad Delong’s paper has a discussion of this topic in the broader context of Medicare rate fee setting.
This is not all physician fees, just Medicare, paid by the federal government. PPACA does put some controls on insurers’ overhead.
The philosophical and political issues are a whole other (interesting) topic.
Rusty’s go away comment and the numerology link were deleted.
Thank you oh humble spam slayer
Jack:
Psssssst. The MLR in Obamacare does just what you want. It controls the amount of money which can be allocated to Administrative as opposed to actual Med cost payout. There is also a ratio between youth, old farts, and smokers. If they do not spend it on your care, they can be made to refund it.
Just came here from Brad DeLong’s twitter feed. This made me think of the “who are you and what have you done with Rusty Rustbelt” commented post.
Most of the policy are on paper.. The implementation of these policy are very slow. As for long term run i think short term goel is much better and easily achived by the implementation.
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