A bill to amend titles XVIII and XIX of the Social Security Act to provide an optional, simplified method of reimbursement for physicians' services under the medicare and medicaid programs for each State on the basis of a fee schedule, uniform throughout such State, and to authorize reimbursement to participating physicians in the full fee schedule amounts (with collection of the applicable deductibles and coinsurance from patients becoming the responsibility of the Federal Program).

Authorizes the Governor of any State under the Social Security Act to request that payment for services rendered within that State be made in accordance with a single fee schedule applicable throughout such State.

Stipulates that such fee schedule shall be proposed by the Governor of such State, and approved by the Secretary of Health, Education, and Welfare.

Permits all physicians in any State to elect whether or not to participate in the program under this Act.

Stipulates that payments to physicians who have not elected to participate in such program shall be made as though this Act had not been enacted.

Requires that each fee schedule in effect and the names and addresses of all participating physicians be made available to the public.

Directs under title XIX (Medicaid) of such Act that payment under title XVIII (Medicare) for services rendered in any State be made only if payment for the services involved under the State plan is made in accordance with such schedule to the extent applicable.