Preserving Patient Access to Physicians Act of 2005 - Amends title XVIII (Medicare) of the Social Security Act with respect to payment for physicians' services to establish an update to the single conversion factor for 2006 of at least 2.7 %, and a formula for an update to the single conversion factor for 2007.
Requires the Secretary of Health and Human Services, in calculating the formula for the single conversion factor, to establish an input price index and estimate a productivity adjustment factor for 2007.
Excludes certain costs relating to such updates from the determination of the Medicare part B monthly premium.