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'Financial Armageddon' would slash $11B from docs' Medicare pay | MassDevice.com On Call

Mon, 09/17/2012 - 9:49am
Mass Device

More than $110 billion in mandatory budget cuts are slated for next year in a so-called 'financial Armageddon' called sequestration, including $11 billion in Medicare reimbursements cuts for physicians and healthcare providers.

MassDevice On Call

MASSDEVICE ON CALL — The bad news: A law on the books with $110 billion in mandatory budget cuts, including an $11 billion haircut for doctors and hospitals.

The good news: Everybody hates it.

The so-called "financial Armageddon" called sequestration, which would slash $110 billion from the U.S. government's budget next year on the way to $2.1 trillion over a decade, is the ultimate poison pill. Politicians of all stripes, from President Barack Obama to the Republican and Democratic leadership in Congress to rank-and-file members, are opposed to the measure.

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