|Colorado hospitals face new Medicare payment reductions|
|Written by Holyoke Enterprise|
Colorado hospitals face yet another round of new Medicare payment reductions, this time estimated at approximately $90 million statewide as a result of the Bipartisan Budget Act passed in December in Washington.
Provisions in the act include extending Medicare payment cuts under the Budget Control Act (a.k.a. ‘sequestration’) two more years, until 2023 instead of 2021.
This marks the latest in a series of unexpected Medicare payment cuts mandated by Congress that continue to threaten the financial stability of many Colorado hospitals. Rural communities will be especially impacted by this action. A Colorado Hospital Association analysis in March 2013 found that Colorado hospitals were already facing more than $2 billion in Medicare cuts over 10 years, equating to a nearly 10 percent reduction in Medicare revenue.
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