Ray Bradbury once said “living at risk is jumping off the cliff and building your wings on the way down.” Admittedly, he was referring to a sense of adventure and embracing boldness in life. His quote might also describe the financial cliff we are facing at the beginning of 2013. This cliff includes tax increases due to the expiration of the Tax Relief, unemployment insurance reauthorization, the Job Creation Act of 2010 and the spending reductions (sequestrations) under the Budget Control Act of 2011.

Regardless of the winner of the election on November 6, the U.S. President must work with a lame duck session of congress. The planned two percent Medicare spending reductions to providers could mean longer waits for treatment, fewer providers and less access to the latest treatment. These Medicare sequestration cuts are above the planned 27 percent cut in Medicare physician reimbursement from the sustainable growth rate. More physicians may choose to exit the Medicare program, which would negatively impact access for patients.


The U.S. Office of Management and Budget has estimated the 2013 sequestration cuts would reduce Medicare Hospital Insurance (Part A) $5.6 billion, Medicare Medical Insurance (Part B) $4.9 billion and Medicare Prescription Drug Plans (Part D) $560 million. Studies indicate the sequester reductions would reduce 750,000 healthcare related jobs by 2021. Industry observers believe research funding would also be reduced, especially since most are discretionary. If that is the case, more than 2,000 National Institutes of Health grants would be impacted.

Following the elections, the tools we need for the U.S. President and Congress to build good wings include bipartisan support, good-faith efforts, collaboration, cooperation, transparency and solution-oriented goals.

We must work together for meaningful solutions not only for healthcare, but for our national cumulative deficit.