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Late News: Across-the-board budget cuts expected to move forward

By Jessica Zigmond
Posted: March 2, 2013 - 12:01 am ET

Aggressive lobbying efforts from the nation's physicians, hospitals, healthcare associations and other industry groups proved futile in persuading Congress to replace automatic, across-the-board spending cuts set in motion by the Budget Control Act of 2011. President Barack Obama was expected to issue a sequestration order late Friday canceling about $85 billion in federal spending for the next seven months of the fiscal year. Medicare providers are bracing themselves for payment reductions—which the Budget Control Act capped at 2%—for services provided on or after April 1. An HHS spokesman confirmed that Medicare payment cuts are delayed until the first day of the first month after the sequester has been ordered.

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