Tell Congress: Adjust Medicare Payments for Inflation

[PsyDr]

Sorry for the cross post. HR 2474 affects physician payments, of all specialties, more than it affects psychologists. Please consider emailing your legislators.

APA has an automated way to do this. I'm sure ApA or AMA has one too.

Tell Congress: Adjust Medicare Payments for Inflation

Please take 2 minutes to ask Congress to support H.R. 2474, which would protect the safety net for older Americans by ensuring Medicare provider payments keep pace with inflation. This bill has important implications for the future of the mental and...

www.votervoice.net

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[Geraltofrivia]

Bumping this thread so it stays on page 1. Sorry.

 

[psychmd03]

Yet another reason to make your money quick so you don’t actually need to work unless you want. Real reimbursements corrected for inflation continues on a steep decline.

 

[hamstergang]

Real reimbursements corrected for inflation continues on a steep decline.

Steep? I know that word doesn't have a precise definition but I feel you're stretching it a bit.

 

[psychmd03]

Steep? I know that word doesn't have a precise definition but I feel you're stretching it a bit.

I dunno 26% decline seems steep to me what do you think?

https://www.ama-assn.org/system/files/medicare-updates-inflation-chart.pdf

 

[hamstergang]

I dunno 26% decline seems steep to me what do you think?

26% over 22 years, so 1.18% per year on average?

Edit: to clarify, though, I do support this bill.

 

[psychmd03]

26% over 22 years, so 1.18% per year on average?

Edit: to clarify, though, I do support this bill.

It should be at minimum 2% growth a year instead. And over time unless my ability to grasp financials that 3% per year difference in what the growth of payment should be will add up to tens of thousands of lost dollars(probably much more I’m being conservative). IE picture the aforementioned graph with a superimposed graph with 2% a year growth. How large is the different at 2022 between where this lines end at?

Also considering the opportunity cost and the future value of money, and missed dollars that could have been put into growth investments I’d call that a steep loss but if that feels too strong for you we can agree to disagree then.