As the nation hurtles toward the fiscal cliff, doctors are staring down a much more daunting abyss, a panel of experts said Thursday at POLITICO Pro’s health care breakfast briefing.

Not only do doctors face a 2 percent cut in Medicare reimbursements because of the failure — thus far — to avoid sequestration, but they’re also looking at a 27 percent reduction in pay in the absence of a deal to fix the Medicare payment formula.