Doctors Term Medicare Cuts a "Threat" to Southwest Florida

.

Medicare payments

Starting Monday, the country's physicians will be faced with a 21.2% cut in Medicare payments, a reduction that the local health care professionals say could end up driving doctors out of the relatively "retirement-heavy" area of Southwest Florida, if nothing is done to block these.

Every year, rates are automatically set by a Federal formula, around since the 1990s that cannot be altered unless the Congress steps in and takes control.

Because the scheduled payouts have generally been lower, lawmakers have continually blocked them. But this has failed to happen as of Friday, a development which has prompted some in the medical community to envision the worst scenario.

"If that happens, it would make our business decision simple. We would go out of business", said Dr. Douglas G. Henricks, a Fort Myers internist, while tagging the 21.2% cut as a "devastating" move.

President of Lee Memorial Health System, Jim Nathan called the formula to calculate yearly payouts as one of the various "ticking time bombs" in the country's health care system.


Latest News

With Inflation Close to Zero is Raising Interest Rates Feasible?
The New Pay Ratio Rule Could be an Eye Opener Revealing the Wide Gap Between the
On Tuesday Disney Reported Mixed Third-Quarter Earnings
AIG Quarterly Profit Surpasses Analysts’ Estimates; Increases Buyback by $5 Bill
Can New Orleans School Improvements Be Made a Model for Rest of the U.S?
Delta Air Lines Inc. Ban Transportation of Big Game Trophies
Alpha Natural Resources, Inc Files for Chapter 11 with United States Bankruptcy
Mt. Gox Bitcoin Head Arrested on Sunday for Suspected Misuse of Bitcoins
Consortium of German Automakers Acquiring HERE Map Business from Nokia
HSBC Holdings Plc Agrees to Sell It’s Brazil unit to Bradesco for $5.2 Billion
Fourth Corner Credit Union’s Bid for Permission to go Into Business Rejected
Nebraska Gov. Ricketts and Lt. Gov. Foley to Traveling to Japan in Trade Mission