Physicians treating Medicare patients will receive a 2% pay cut in 2023

Statistic Info

With a large number of physicians treating Medicare patients nationwide, the cuts could add up to billions of dollars less over the course of 2023. This pay cut could lead to fewer incentives for professional physicians to work with Medicare patients, leading to longer wait times and other access issues that can negatively affect patient care.

Author: Medical Economics

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Physician Practices

Almost 90% of Medicare Advantage beneficiaries and Medicare Supplement beneficiaries said they were satisfied with their health plan coverage

In Medicaid expansion states, 9.1% of adults were uninsured in 2021 compared to 18% in non-expansion states

27% of physicians plan to leave medicine within two years due to physician burnout

78% of uninsured individuals reported never disputing a medical bill with their physician, hospital, or insurance company

Nearly 1/3 of beneficiaries age 65+ said they turn to an insurance broker or agent

88% of physicians describe the prior authorization burden as high or extremely high

Approximately 80% of physicians also said prior authorizations at least sometimes result in treatment abandonment

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44% of healthcare businesses plan to implement customer experience strategies in 2023

More 2023 Stats

95.7% of patients prefer to receive test outcomes immediately through their patient portals

47% of patients state they would prefer a telehealth appointment if given the option

Almost 90% of Medicare Advantage beneficiaries and Medicare Supplement beneficiaries said they were satisfied with their health plan coverage

In Medicaid expansion states, 9.1% of adults were uninsured in 2021 compared to 18% in non-expansion states

Between 2019 and 2020, the share of organizations that offered telehealth rose from 38.2% to 69%

27% of physicians plan to leave medicine within two years due to physician burnout

78% of uninsured individuals reported never disputing a medical bill with their physician, hospital, or insurance company

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9 in 10 Americans live within 5 miles of a pharmacy and high-risk patients visited their community pharmacy an average of 35x per year

The prevalence of mental illness is about equal among beneficiaries enrolled in traditional Medicare (31%) and those in Medicare Advantage plans (28%)