From what I read in Newsweek:
http://www.newsweek.com/id/192472 Apparently states whose Medicaid don't pay for male genital mutilation at birth have a 24% lower rate than those that do. Doctors say that more and more parents don't want to pay the $300 to have their children's genitals sliced up now that it's not covered by the state. I can't imagine wanting to have that done to any children, regardless of price, but I guess we'll take all the progress we can get.
Hopefully eventually this will become a human rights or a health issue, not an economic one.