Automatic 2% Medicare Cut Will Cost 767,000 Jobs, Study Says

From Medscape Today News:

September 12, 2012 — A looming 2% cut in Medicare reimbursement triggered by the failure of Congress to forge a deficit-reduction plan will wipe out 767,000 jobs across the economy through 2021, according to a new studyreleased today by the American Medical Association (AMA) and 2 other groups.

The cut, which will affect physicians, hospitals, and other providers, but leave enrollee benefits untouched, is scheduled to take effect January 1, 2013, unless Congress acts to nullify it. The AMA and 124 other medical societies urged lawmakers in a letter today to spare physicians this 2% reduction as well as a 27% pay cut next year that is mandated by Medicare’s sustainable growth rate formula.

Read more: Automatic 2% Medicare Cut Will Cost 767,000 Jobs, Study Says.

Tim Colling
Tim Colling

Tim Colling is the founder and President of A Servant's Heart In-Home Care, which provided in-home caregiving services in San Diego County, and also of A Servant's Heart Geriatric Care Management, which provided
professional geriatric care management services and long term care placement services in San Diego County. Tim has more than 30 years of experience in management in a variety of industries. He held a Certified Care Manager credential from the National Academy of Certified Care Managers. Tim is also a Certified Public Accountant (retired), and received his Bachelor’s Degree in Accounting from California State University at San Diego. In addition to writing blog posts here for the Servant’s Heart blog, Tim also is a regular contributor to and to as well as blogs of other eldercare services provider companies. Finally, Tim is also the president of A Servant's Heart Web Design and Marketing, which provides home care marketing as well as website design and online marketing for those who serve the elderly and their families.

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