Medicare Fairness in Reimbursement Act of 2001

Medicare Fairness in Reimbursement Act of 2001 - Amends title XVIII (Medicare) of the Social Security Act to instruct the Secretary of Health and Human Services to establish a system for making adjustments to payments for items and services provided under the original Medicare fee-for-service program, with specified formulae for States whose average per beneficiary amount is: (1) greater than 105 percent of the national average; or (2) less than 95 percent of the national average. Authorizes the Secretary to make specified related adjustments to geographic indices under the Medicare physician fee schedule in certain circumstances.