When it comes to looming Medicare pay cuts, the government sure likes taking things down to the wire. Part B practices are facing a 27 percent cut to Medicare rates effective Jan. 1 unless Congress steps in and reverses that cut, which it has done in prior years. However, the recent failure of the country's deficit committee means that the government has not yet instituted any solutions to the issue. "The AMA is deeply concerned that continued instability in the Medicare program, including the looming 27 percent cut scheduled for January 1, will force many physicians to limit the number of Medicare and TRICARE patients they can care for in their practices," said AMA president Peter W. Carmel, MD, in a Nov. 21 statement. "Congress has ignored the reality that short-term patches have grown the problem immensely. The cost of repealing the formula has grown 525 percent in the past five years and will double again in the next five years." Keep an eye on the Insider as we move closer to the Jan. 1 deadline and determine whether cuts will go into effect as planned, or whether Congress will stave them off for another year.