Sens. Boozman, Welch Introduce Bipartisan Physician Payment Bill

September 10, 2024 – On August 1st, Sens. John Boozman (R-AK) and Peter Welch (D-VT) introduced legislation that aims to protect access to Medicare services by reforming the physician fee schedule.

The Physician Fee Stabilization Act (S.4935) would increase the budget neutrality threshold from $20 million to $53 million, with an increase every five years to keep pace with the Medicare Economic Index. The bill is cosponsored by Sens. Thom Tillis (R-NC), Angus King (I-ME), Roger Marshall, M.D. (R-KS), and Jeanne Shaheen (D-NH). The budget neutrality threshold under Medicare’s physician fee schedule has not been updated since 1992.