UPDATE: Lawmakers came to an agreement on the Medicare reimbursement rates for physicians in the early morning hours of Thursday. Details to come.
Agreement in Principle Reached Wednesday
House Speaker John Boehner (R-OH) announced Wednesday that a joint House-Senate conference committee had reached "an agreement in principle" on a proposal to once again delay the 27.4% in Medicare reimbursement cuts scheduled to go into effect on March 1.
The proposed deal would delay hefty Medicare provider reimbursement cuts and would include $27 billion in program cuts to hospitals, home health agencies, and clinical labs, according to a summary document received Wednesday by HealthLeaders Media.
The committee, which is charged with negotiating a resolution to the sustainable growth rate, the unpopular Medicare physician payment formula, reportedly proposed only a 10-month freeze—until Jan. 1, 2013—on any reimbursement cuts.
This story will be updated throughout the day.