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UPDATE: March 12, 2021: President Joe Biden signed the legislation a bit earlier than planned, on Thursday afternoon.
Provider groups including the American Hospital Association immediately called on Congress to pass a new bill extending the pause on Medicare sequester cuts. The House of Representatives will vote next week on such a bill.
The cuts have provided "critical relief" to providers during the public health emergency, but higher overhead and lost revenue have presented "overwhelming financial challenges and pressures," the groups wrote.
The COVID-19 relief bill the House passed Wednesday is a major win for various sectors in the healthcare industry, and includes the biggest update to the Affordable Care Act since it was enacted 11 years ago this month.