A bill to amend title XVIII of the Social Security Act with respect to surgical procedures which can be safely and appropriately performed on an ambulatory basis.

Amends title XVIII (Medicare) of the Social Security Act to direct the Secretary of Health, Education, and Welfare to specify those surgical procedures which can be safely and appropriately performed either in a hospital on an inpatient basis or on an ambulatory basis: (1) in a physician's office; or (2) in an ambulatory surgical center or hospital. Authorizes payment under the Medicare program for those ambulatory procedures not performed in a hospital. Directs the Secretary to establish with respect to each such surgical procedure an amount which is payable either to: (1) the physician for the excess costs in outfitting the physician's office to perform such procedures; or (2) the ambulatory surgical center for its services furnished in connection with such procedures. Stipulates that such amounts will be payable only upon assurances that the performance of such procedures will cost substantially less than the cost of performing such procedures on an inpatient basis in a hospital.