The Centers for Medicare and Medicaid (CMS) reported an update last week to the proposed implementation of the Medicare Access and CHIP Reauthorization Act (MACRA). This update offered physicians 4 different approaches in FY 2017 to implement MACRA in their practices.
These 4 options allow physicians to avoid any negative penalties starting in FY 2019:
- Submit enough data to the Quality Payment Program to ensure that your system is working and that you are prepared for broader participation in 2018 and 2019;
- Submit the full set of performance data for less than the full 2017 calendar year;
- Submit the full set of performance data for the full 2017 calendar year; or
- Participate in an Advanced Alternative Practice Model (APM) in 2017.
The reimbursement provisions of MACRA establish 2 value-based payment pathways for physicians who provide services to Medicare beneficiaries:
- The Merit-based Payment Incentive System (MIPS) and
- Advanced APMs.
When the new payment system launches in 2019, most physicians are expected to receive Medicare payments through MIPS, which has 4 performance categories:
- Clinical care improvement activities such as boosting care coordination;
- Electronic health record capabilities.
We believe that most of our physician clients will welcome the opportunity to choose one of four options to implement MACRA in 2017.