Key Provisions related to Medicare and Medicaid Extenders Act of 2020-Physicians get reprieve

In December Physicians averted at 24.9 % cut in their income as a result of a last minute passing of The Medicare and Medicaid Extenders Act of 2010. Here are the key provisions:
1. Replace scheduled cuts with a freeze in Physician payments from 2012 to 2020.
2. Direct CMS to develop an improved physician payment formula.
3. In order to make sure CMS establishes a new formula on a timely basis, the annual reductions could be reinstated in 2015 until CMS establishes new payment.

These major provisions are a step in the right direction but our a "day late and a dollar short" as so much of tax payer money could have been saved if Congress acted on this years ago rather than perpetually delaying the cuts with last minute legislations.