BREAKING NEWS: Deal Reached in Congress on SGR Physician Payment Issue

This just in: according to a report by David Pittman, Washington correspondent for MedPage Today, "Physicians will get a 0.5-percent pay increase each year for five years under a deal by a bipartisan team of House and Senate negotiators [in the U.S. Congress] to repeal the sustainable growth rate (SGR) formula for physician payment under Medicare."

As Pittman has just reported, "The deal announced Thursday combines the work of three congressional committees, as Democrats and Repubicans have worked together for nearly a year to draft legislation that repeals the SGR."

Importantly, as Pittman reports,"The bill, which will need the approval of both chambers, does not outline how Congress will pay for a full repeal--which is likely to fall between $120 billion and $150 billion [in total cost]. However, with a final bill in hand, lawmakers can pin down a final price tag and focus their attention on paying for it."

The full story can be read here.

Healthcare Informatics will provide updates as new developments occur in this ongoing story.