INDUSTRY NOTES: Fed Chairman Urges Steep Medicare Cuts
Plus: Quality guidelines paid off for chronic patients.The right time to start slashing Medicare spending was "ten years ago," Federal Reserve Chairman Ben Bernanke told Congress recently. But unless Congress starts playing catch-up and fixing the program, the cuts will have to be "more severe" and "more draconian."Demographic wave: The 78 million baby boomers will drive Medicare costs through the roof, Bernanke warned. In the process, "the U.S. economy could be seriously weakened," he added. Spending on Medicare, plus Social Security and Medicaid, will skyrocket during the next decade, doubling the programs' share of...
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