News Headlines Article

Obama signs bill to avert fiscal cliff, doc pay cut
Modern Healthcare

President Barack Obama has signed the American Taxpayer Relief Act of 2012, which continues current Medicare payment rates for the nation’s physicians through Dec. 31, 2013.

Both chambers of Congress passed the legislation on New Year’s Day to avert the fiscal cliff, a series of tax increases and spending reductions that were set to kick in on Jan. 1. The law also provided a one-year reprieve for doctors participating in Medicare, who had faced a 26.5% payment cut. The bill covers the cost of the physician payment fix by cutting billions from other Medicare providers, including hospitals, pharmacies and dialysis clinics.