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 Mar 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.