REVISION OF UPDATES FOR PHYSICIANS’ SERVICES.

SEC. 601. REVISION OF UPDATES FOR PHYSICIANS’ SERVICES.(a) Update for 2004 and 2005.—(1) In general.—Section 1848(d) (42 U.S.C. 1395w–4(d)) is amended by adding at the end the following new paragraph:“(5) Update for 2004 and 2005.—The update to the single conversion factor established in paragraph (1)(C) for each of 2004 and 2005 shall be not less than 1.5 percent.”.117 STAT. 2301(2) Conforming amendment.—Paragraph (4)(B) of such section is amended, in the matter before clause (i), by inserting “and paragraph (5)” after “subparagraph (D)”.(3) Not treated as change in law and regulation in sustainable growth rate determination.—The amendments made by this subsection shall not be treated as a change in law for purposes of applying section 1848(f)(2)(D) of the Social Security Act (42 U.S.C. 1395w–4(f)(2)(D)).(b) Use of 10-Year Rolling Average in Computing Gross Domestic Product.—(1) In general.—Section 1848(f)(2)(C) (42 U.S.C. 1395w–4(f)(2)(C)) is amended—(A) by striking “projected” and inserting “annual average”; and(B) by striking “from the previous applicable period to the applicable period involved” and inserting “during the 10-year period ending with the applicable period involved”.(2) Effective date.—The amendments made by paragraph (1) shall apply to computations of the sustainable growth rate for years beginning with 2003.