The Senate and the House both passed the Medicare, Medicaid and State Children’s Health Insurance Program (SCHIP) Extension Act of 2007 which replaces the 10.1 percent reduction in Medicare Part B payments scheduled for 2008 with a six-month, 0.5 percent increase. The President signed this bill into law on December 29, 2007. Physicians will face a payment reduction in Part B payments in July 2008 unless Congress once again intervenes.
