April 12, 2013 — Earlier this week, President Obama delivered his Fiscal Year 2014 budget to Congress. This non-binding, 244-page document contains proposed spending levels for all facets of the federal government, including funding for the Department of Health and Human Services and related agencies such as the National Institutes of Health (NIH).
The budget plan assumes that Congress will find a way to prevent the 25-percent payment cuts to Medicare physicians scheduled for next January under the Sustainable Growth Rate (SGR).
According to the Congressional Budget Office, freezing payment rates for 10 years and replacing the SGR would cost $138 billion over 10 years. Stay tuned to Week in Review for developments as Congress navigates the FY 2014 budget process.
Source: American Chiropractic Association, acatoday.org