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 residents are experiencing significant delays in accessing specialist care, which can lead to adverse health outcomes.

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 intent is to ensure that New Mexico remains regionally competitive in attracting and retaining medical specialists, ultimately improving healthcare access and quality for its residents. Copies of the memorial are to be sent to key legislative leaders and the director of the Legislative Finance Committee.