The Impact of Inflation and Medicare Conversion Reduction on Physician Reimbursements

Posted by Gregory F. Murphy, MD | Dec 2022

Congressman Gregory F. Murphy, MD, presented “The Impact of Inflation and Medicare Conversion Reduction on Physician Reimbursements” for the Grand Rounds in Urology audience in December 2022.

How to cite: Murphy, Gregory F. “The Impact of Inflation and Medicare Conversion Reduction on Physician Reimbursements” December 2022. Accessed Apr 2024. https://grandroundsinurology.com/the-impact-of-inflation-and-medicare-conversion-reduction-on-physician-reimbursements/

The Impact of Inflation and Medicare Conversion Reduction on Physician Reimbursements – Summary

Congressman Gregory F. Murphy, MD, a practicing urologist and the Representative from North Carolina’s 3rd District, speaks with E. David Crawford, MD, Editor-in-Chief of Grand Rounds in Urology, about the dual impact of increasing inflation and decreasing medicare conversion rates on physician reimbursement. Dr. Murphy refers to the upcoming 4.42% decrease in medicare conversion factors and how it will have an outsized impact on physicians in private practice, especially as inflation has topped 8% in the past year. The two also discuss how certain technologies, such as robotic surgery and disposable cytoscopes, increase costs for physicians, and how cost efficiency should be taught starting in residency programs.

For more commentary on practice management from Dr. Murphy, visit his faculty page.

About The Author

Gregory F. Murphy, MD

Originally from Raleigh, Congressman Greg Murphy graduated magna cum laude from Davidson College in 1985. He attended UNC School of Medicine graduating with Honors. After completing his residency in Urology and Renal Transplantation at the University of Kentucky in Lexington, he and his wife, Wendy, settled in Greenville, NC to begin his practice. Dr. Murphy has been the President of Eastern Urological Associates in Greenville, an Affiliate Professor and Chief of the Division of Urology at the ECU School of Medicine, Davidson College’s Alumni President and served on Davidson’s Board of Trustees. Outside of work, he has traveled extensively for the last 35 years as a Medical Missionary, including to India, several parts of Africa, Nicaragua, and Haiti. Dr. Murphy’s professional career has been primarily one of clinical practice and administrative leadership positions. His surgical practice site is Vidant Medical Center, which serves 29 eastern NC counties. He served for three years as Chief of Staff of the Medical Center. As a newcomer to politics, Dr. Murphy served in the North Carolina House of Representatives from 2015 to 2019. During his second term in the General Assembly, he served as Senior Chair of Health Policy and Chair of Health and Human Services Appropriations. Dr. Murphy was the Primary Sponsor of both the STOP Act and the HOPE Act, North Carolina’s two main legislative actions to combat the Opioid Crisis. He led efforts to combat waste, fraud, and abuse in the state’s Medicaid system which saved the state hundreds of millions of dollars during his tenure. Dr. Murphy was sworn in to the U.S. Representatives in September 2019, replacing the late Congressman Walter B Jones, Jr. He serves on the House Committee on Education and Labor as well as the House Veterans Affairs Committee.

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