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 due to low reimbursement rates from Medicaid and Medicare, which contribute to a significant delay in residents accessing specialist care. The memorial emphasizes the need for New Mexico to be regionally competitive in attracting medical professionals, as the state has one of the oldest physician populations and a high percentage of residents reliant on government health programs.

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 inform strategies that could improve the financial viability of medical specialties in New Mexico, ultimately aiming to enhance healthcare access for residents who are currently facing long wait times for specialist services. Copies of the memorial will be sent to key legislative leaders to ensure awareness and support for the initiative.