Medicare's Anchor Is Dragging 2025

Medicare anchors the payment structure for most payers. Commercial and Medicaid rates often mirror or benchmark against Medicare’s fee schedule, so every Medicare cut triggers an across- the-board reduction in physician payment.

Key structural flaws continue to erode physician reimbursement:

• Budget Neutrality : CMS must offset any payment increase with a cut elsewhere, creating instability and pitting specialties against one another. Specialty societies have urged Congress to end budget neutrality , but progress remains limited , especially amid disruptions such as the 2025 government shutdown. • No Inflation Indexing : Unlike hospital payments, physician rates are not tied to inflation . The Medicare Economic Index (MEI) tracks rising costs but is not fully applied . • Medicaid Shortfalls : Medicaid often reimburses below the cost of care , far less than Medicare or commercial payers, forcing many physicians to limit the number of Medicaid patients they can serve. Impact: Eroding reimbursement has created financial instability, driven independent practice closures, and reduced access to care, especially for Medicare and Medicaid patients and those in rural or low-income communities. Administrative Overload Administrative demands remain one of the greatest barriers to patient-centered care. Physicians spend over seven hours each week on paperwork, documentation, and compliance. For every hour with patients, nearly two are lost to clerical tasks.

Key contributors include:

Prior Authorization : A major source of frustration and delay that diverts time and resources from patient care. ➢

CMS plans to pilot the WISeR Model in 2026 in six states, using AI to automate parts of this process. While promising, it could also add new complexity .

• EHR and Compliance Requirements : Documentation, reporting, and certification mandates often exceed their purpose, forcing physicians to focus on screens and checkboxes instead of patients .

Impact: Each new administrative mandate pulls physicians further from patient care, replaces care with paperwork, and erodes morale across the system.

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