Strengthening Medicare for Patients and Providers Act (H.R.2474)
The Strengthening Medicare for Patients and Providers Act (H.R. 2474) is a bipartisan bill introduced in the U.S. House of Representatives to stabilize and update Medicare physician payments. Sponsored by Representatives Raul Ruiz (D-CA), Larry Bucshon (R-IN), Ami Bera (D-CA), and Mariannette Miller-Meeks (R-IA), the act addresses the growing disparity between Medicare payments and the rising costs of running medical practices.
The primary objective of H.R.2474 is to update Medicare physician payments by tying them to the Medicare Economic Index (MEI). This would ensure that payments reflect inflationary changes in practice costs and wages, which could help stabilize the financial environment for medical practices.
Key Features of H.R. 2474:
Annual Payment Updates Linked to Inflation: The bill proposes tying yearly updates to the Medicare Physician Fee Schedule (MPFS) to the Medicare Economic Index (MEI). This measure reflects inflationary pressures specific to healthcare practices. This adjustment would help ensure physician payments keep pace with practice expenses and wage levels.
Addressing Payment Disparities: Over the last two decades, physician payments have decreased by 26% when adjusted for inflation, while operating costs for practices have risen by 47%. This imbalance has created financial stress, especially for rural and small practices, making it difficult for them to remain operational and ultimately impacting patient access to care(
Preventing Physician Shortages: By providing predictable annual payment updates, H.R. 2474 aims to reduce financial uncertainty and prevent a potential shortage of Medicare physicians, which could limit patient access to care, particularly in underserved areas.
Broader Support: The bill has gained support from multiple organizations, including the American Medical Association (AMA), American College of Cardiology (ACC), and the American Physical Therapy Association (APTA), highlighting its importance in maintaining a stable healthcare system that ensures timely and quality care for Medicare beneficiaries.
Why It Matters:
The current status of H.R.2474, the Strengthening Medicare for Patients and Providers Act, is that it has been introduced in the House of Representatives and referred to two committees: the House Energy and Commerce Committee and the House Ways and Means Committee. It was subsequently referred to the Subcommittee on Health on April 14, 2023. The bill is still in the early stages and has not yet moved to the House floor for a vote
Current Status:
The current status of H.R.2474, the Strengthening Medicare for Patients and Providers Act, is that it has been introduced in the House of Representatives and referred to two committees: the House Energy and Commerce Committee and the House Ways and Means Committee. It was subsequently referred to the Subcommittee on Health on April 14, 2023. The bill is still in the early stages and has not yet moved to the House floor for a vote.
https://www.congress.gov/bill/118th-congress/house-bill/2474/text
https://www.cortezmasto.senate.gov/news/press-releases/cortez-masto-blackburn-thune-barrasso-stabenow-warner-announce-formation-of-medicare-payment-reform-working-group/