On Feb. 14, President Obama submitted his fiscal 2012 budget request to Congress. The proposal consists of various Medicare and Medicaid cuts including:
A reduction in the Medicaid provider tax threshold
Anti-fraud legislative initiatives
A change to biosimilars policy
Limits on so-called “pay-for-delay” patent settlements between brand-name and generic drug companies.
These measures would raise $62.2 billion, which would offset the $54.4 billion cost of the 2-year doc fix
The White House budget request calls for two sets of adjustments to the sustainable growth rate (SGR) formula used by Medicare to reimburse physicians — a two-year patch budgeted at $54 billion, and “relief from 2014-2021” that the administration says would cost $315 billion. The current SGR funding expires on Dec. 31, 2011.
The House of Representatives is currently debating a continuing resolution (CR) which will set spending limits for government agencies and federal programs for the rest of this fiscal year. Both the House and Senate must agree to identical legislation before March 4 to allow the government to continue operating.
Dallas L Alford IV, CPA is a licensed Certified Public Accountant in the state of North Carolina and owner of Atlantic Financial Consulting, a consulting firm that provides comprehensive medical billing services, practice management consulting, coding audits, Medicare compliance, Medicare RAC support and other general medical practice consulting services.
To learn more about Atlantic Financial Consulting you may visit their website at http://atlanticfinancial.us or contact Dallas L Alford IV, CPA directly at 1 888-428-2555, Ext. 200.
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