Proposed 2008 budget forebodes Medicare cuts
Hospitalist Leadership Connection, February 28, 2007
A breaking news alert from the Society of Hospital Medicine (SHM) on February 8 reported that President Bush's 2008 budget proposal calls for significant cuts in Medicare funding.
According to SHM, Bush's fiscal year 2008 budget includes his largest-ever cuts to Medicare and Medicaid funding, including the following:
- A reduction in overall Medicare payments by $65.6 billion over five years, composed primarily of cuts in annual updates for providers.
- A reduction in Medicaid spending by roughly $25 billion over five years.
- A decrease of $310 million (from fiscal year 2007) in funding for the National Institutes on Health (NIH)
- An increase of $11 million over 2007 for the Agency for Healthcare Research and Quality (ARHQ)
The news alert also notes that the budget does not include a recommendation on physician spending, meaning that unless Congress intervenes, physician fees will be cut by at least 8% in 2008.
To access SHM's advocacy and policy Web site page, click here.
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