As payors began to experiment with value-based payment models and reduced costs for services, physicians experienced large decreases in their pay rates last year, according to a survey from Physicians Practice, a business publication for physicians.
The survey collected data from 1,300 physicians on what they were paid on average for common medical codes from all of their payors. Among the results was a one-third drop in reimbursement for the lowest-complexity diagnostic code for an existing patient visit — from $30 in 2011 to $20 in 2012.
Physicians did record pay increases for some codes from payors, such as new patient visits, but Physicians Practice said "even the modest pay bumps are probably temporary…as payors continue to try to control health costs by holding down reimbursement."
The survey collected data from 1,300 physicians on what they were paid on average for common medical codes from all of their payors. Among the results was a one-third drop in reimbursement for the lowest-complexity diagnostic code for an existing patient visit — from $30 in 2011 to $20 in 2012.
Physicians did record pay increases for some codes from payors, such as new patient visits, but Physicians Practice said "even the modest pay bumps are probably temporary…as payors continue to try to control health costs by holding down reimbursement."
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