Medicare SGR Improvement and Reform Act of 2009 - Amends title XVIII (Medicare) of the Social Security Act to provide an increased annual update for the Sustainable Growth Mechanism (SGR) formula for determining rates in the fee schedule for Medicare physician payments.
Sets a three-year time limit for the commencement of a health care lawsuit.
Prescribes requirements for: (1) unlimited damages for a claimant's actual economic losses in health care lawsuits; (2) court supervision of arrangements for payment of such damages, including limitation of contingent attorney fees; (3) restrictions on punitive damages; and (4) payment of future damages to claimants in health care suits.
Terminates funding of the Medicare Improvement Fund as of January 1, 2010.
Amends the Public Health Service Act to prescribe requirements for the licensure of biological products as biosimilar or interchangeable.
Includes under the Federal Food, Drug, and Cosmetic Act fees relating to the licensure of a biological product.
Amends patent law with respect to biosimilar products.
Directs the Secretary of Health and Human Services (HHS) to adopt a single set of consensus-based operating rules for each health information transaction.