Archives     Advertise     Editorial Calendar     Subscribe     Contact Us    


AMA Supports Congress Providing Much-Needed Relief to Physicians Working Through the Pandemic


 

CHICAGO -- The American Medical Association (AMA) strongly supports provisions in the Continuing Resolution that will offer relief to hard-pressed physician practices. Revisions to the Medicare Accelerated and Advance Payments program (AAP) will help keep doors open during the pandemic and continue to offer patients access at this time.

"Upon passage of the Continuing Resolution, patients should know that their physician is more likely to weather the pandemic's economic challenges. Congress recognized the danger, and rightfully modified the program so physicians can keep seeing patients," said AMA President Susan A. Bailey, M.D.

Centers for Medicare & Medicaid Services worked quickly in the spring to provide financial assistance to physicians -- a lifeline for many practices. The AMA also appreciated that the CARES Act postponed the start of recoupment for the AAP until 120 days after initial payment and allows up to 210 days for repayment for physicians.

The AMA, however, has heard significant concerns from physicians about their ability to repay this money during the economic uncertainty. In the spring, surveys showed that from March to May revenues in physician offices were down at least 50 percent. As practices began reopening, some were able to recoup some of the loss but not all due to reduced visits and procedures. The repayment terms are harsh: Physicians would have 100 percent of their Medicare claims withheld to repay the loans on a short timeline, and after a few months any outstanding balances, will be subject to a 10.25 percent interest rate.

The Continuing Resolution:

  • Postpones the recoupment of disbursed funds until 365 days after the advance payment has been issued to a physician practice; the balance would be due by September 2022.
  • Reduce the per claim recoupment amount from 100 percent to 25 percent for the first 11 months and the 50 percent of claims withheld for an additional six months. If not repaid in full, the interest rate kicks in.
  • The interest rate would be lowered from 10.25 percent to 4 percent.

"Members of Congress and the Administration have settled on a bipartisan response to the economic sword hanging over physician practices. This relief will be felt across the county as physicians will be able to continue providing health care during the pandemic," Bailey said.

 
Share:

Related Articles:


Recent Articles

American College of Surgeons panels warn vaping and marijuana use before an operation can be harmful

Read More

Competition Declined in Majority of Health Insurance Markets Where it was Most Scarce

AMA study finds increasingly limited health insurance options for patients in highly concentrated markets

Read More

AHA STATEMENT ON PASSAGE OF CONTINUING RESOLUTION

Read More

AMA Supports Congress Providing Much-Needed Relief to Physicians Working Through the Pandemic

Read More

State's First Female Heart Transplant Recipient Celebrates 35 Years On Borrowed Heart

Records suggest that Jan Vaughn, long-time TN resident and MTSU graduate, may be the nation's longest-surviving single heart transplant recipient.

Read More

AMA Releases 2021 CPT Code Set

New updates to medicine's common language reflect burden relief, COVID-19 testing and tech-enabled medical services

Read More

Council on Aging Offers Helpline, Resources for Healthcare Providers

COA offers a helpline and lifeline to providers, older adults, caregivers and family members trying to navigate services.

Read More

Tennesseans Join Hundreds of Cancer Patients, Survivors Nationwide to Call on Congress: Make Cancer a National Priority

Amid Pandemic Advocates Hold Virtual Meetings with Members About Increased Cancer Research Funding and Equitable Access to Clinical Trials

Read More

VUMC Launches Groundwork for Tennessee's First Federally Funded Alzheimer's Disease Research Center

Angela Jefferson, PhD, professor of Neurology and director of the Vanderbilt Memory and Alzheimer's Center, has been awarded a grant from the National Institute on Aging (NIA), part of the National Institutes of Health (NIH), to support establishment of an NIA-funded exploratory Alzheimer's Disease Research Center (ADRC) at Vanderbilt University Medical Center (VUMC).

Read More

From Pain Management to Pandemic: The Changing Face of Sports Medicine

New norms mean new routines and standards of care on and off the field.

Read More

Email Print
 
 

 

 


Tags:
None
Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: