On Oct 14, 2016, the CMS finalized a landmark payment system for Medicare clinicians and introduced a new Quality Payment Program under the Medicare Access and Chip Reauthorization Act of 2015 (MACRA). This new Medicare physician payment system will impact more than 60,000 physicians across the country. Though the final rule includes a 60-day comment period, MACRA is due to take effect on January 1, 2017.
According to HHS, the “MACRA rule will accelerate the healthcare system’s shift toward value.” MACRA significantly changes how Medicare will reimburse physicians in the future. Under the new value-based payment system, physicians will have to participate in either the MIPS or the APM payment model to avoid penalties. With just above 60 days left before implementation, healthcare leaders need to begin preparing now since the actions you take starting in Jan 2017 may result in reduction or rise of 4% Medicare revenue in 2019 or up to 22% in 2022.
Want to know more about how MACRA impacts your practice or organization? Knowledge is crucial now as it will determine how you prepare, adjust and move from a volume-based system to a new value-based payment system. That is the only way you can avoid penalties and take advantage of new revenue-boosting opportunities when MACRA comes into full force.
The MACRA Essentials Bundle includes five of our bestselling webinars on MACRA, MIPS and new Medicare payment rules. It provides you with practical, straight forward information and insights on MACRA, its impact, and strategies to make the best of this significant change directly from top healthcare experts.