How the new Quality Payment Program can – and will – impact your revenue and reputation
The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) is the largest change in a generation to healthcare reimbursement. MACRA replaces the Medicare Part B Sustainable Growth Rate (SGR) reimbursement formula with a new value-based reimbursement system called the Quality Payment Program (QPP). The intent is to tie 90% of Medicare payments to quality or value by 2018.
To achieve this feat, MACRA introduced the QPP, which provides two paths for clinicians to earn Medicare Part B reimbursement:
- Competitive program that scores clinicians across multiple performance categories
- Each category has its own set of measures, requirements, scoring, and reporting
- Annual MIPS score will determine Medicare reimbursement adjustments
- MIPS scores will be publicly reported on the Physician Compare website and made freely available to third-party vendors
- CMS-defined value-based payment program models based on specific clinical conditions, care episodes, or populations
- Participation requirements must meet the model as well as the entity’s individual requirements
- Qualifying participants can earn an annual 5% Part B incentive and are exempt from MIPS
Organizations and clinicians have to decide which path to take – MIPS versus APM – as well as how to participate, what measures to select, how to report, and much more.
Regardless of which path you choose, the amount and complexity of management and reporting will increase significantly. SA Ignite is here to help.