Amends title XVIII (Medicare) of the Social Security Act to require the Secretary of Health and Human Services to consult with appropriate…

Official title: To amend title XVIII of the Social Security Act to require the Secretary of Health and Human Services to consult with representatives of physicians and to use the most recent available data in making geographic adjustments to the payment rates for physicians' services under part B of the medicare program, and for other purposes.

Amends title XVIII (Medicare) of the Social Security Act to require the Secretary of Health and Human Services to consult with appropriate representatives of physicians in reviewing the geographic adjustment factors used to determine reimbursements for physician services under Medicare part B (Supplementary Medical Insurance). Requires the Secretary to: (1) base such factors on the most recent available data; (2) first review and revise such factors by January 1, 1995; and (3) study and report to specified congressional committees on the construction of the geographic cost of practice index and the review and revision of the geographic indices under Medicare. Directs the Physician Payment Review Commission to study and report to the Congress on criteria to refine fee schedule areas in applying geographic adjustment factors for computing payment amounts under Medicare for physicians' services.