INCREASE PAY FOR MEDICAL SPECIALTY PROVIDERS

Senate Memorial 12 is a non-binding request asking the Legislative Finance Committee to study options for increasing pay for medical specialty providers in New Mexico. It cites challenges like low Medicaid reimbursement rates (60-70% of Medicare rates for procedures), high reliance on government insurance (only 25% of billing from commercial markets), and long patient wait times (6-18 months for specialists). The memorial specifically requests $200,000 to fund a contractor for the study, aiming to identify ways to make New Mexico competitive in recruiting and retaining these providers. This resolution does not change current pay rates but seeks to inform future legislative action on provider compensation.