Resident Physician Shortage Reduction Act of 2012 - Amends title XVIII (Medicare) of the Social Security Act with respect to distribution of additional resident positions as they affect calculation of payments for direct graduate medical education (DME) costs.
Directs the Secretary of Health and Human Services (HHS), for each of FY2013-FY2017 (and each succeeding fiscal year if additional residency positions are available to distribute), to increase the otherwise applicable resident limit for each qualifying hospital.
Directs the Secretary to determine the total number of additional residency positions available for distribution, in accordance with guidelines for allocating 33% to hospitals already operating over the resident limit, and generally setting the aggregate number of increases in the resident limit to 3,000 in each year.
Specifies the process for distributing positions.
Directs the National Health Care Workforce Commission established under the Patient Protection and Affordable Care Act to study the physician workforce.
Directs the Comptroller General to study strategies for increasing the diversity of the health profession workforce.