Saturday, December 09, 2006

Sometimes Inside Information Doesn't Help

As a part of an omnibus bill that passed in Congress on the last day of the session, a scheduled cut in reimbursement for doctors treating Medicare patients was stopped. The scheduled cut was due to occur as the result of a formula created by Congress several years ago for the purpose of determining annual adjustments. The formula is not realistic, with the result that this has been an annual issue for which Congress refuses to craft a permanent solution.

Even so, a lobbyist hired by an association of which The Oracle is a member told members back in October that Congress would not rectify even the annual problem this year. He added that they would definitely not manage to do it if either or both Houses changed majority parties as the result of the election.

Oh, how much money is paid for wrong prognostication!

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