Senate Memorial 12 requests the Legislative Finance Committee to conduct a study aimed at identifying options to increase compensation for medical specialty providers in New Mexico. The bill highlights the challenges faced by the state in recruiting and retaining physicians, particularly given the aging physician population and the low reimbursement rates from Medicaid and Medicare. It notes that New Mexico has a significantly lower percentage of medical billing covered by the commercial market compared to other states, which exacerbates the financial strain on medical providers and contributes to long wait times for patients seeking specialist care.

Additionally, the memorial encourages the legislature to allocate $200,000 in funding to support the study, which would involve hiring a contractor to assist in the research. The findings from this study are intended to help ensure that New Mexico remains competitive in attracting and retaining medical specialists, ultimately improving access to healthcare for residents who are currently facing significant delays in receiving necessary medical attention. Copies of the memorial will be sent to key legislative leaders to ensure awareness and support for the initiative.