September 19, 2016
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.