The 2016 election has created quite the buzz around the changes the healthcare industry may see. With the Centers for Medicare & Medicaid Services (CMS) releasing the long-anticipated final rule for implementing the MACRA law passed in 2015, our experts dive into the possible implications.
Here are some need-to-know facts about the implementation of MACRA:
- The initial MACRA reporting period will begin January 1, 2017, as originally proposed in April 2016.
- This final rule covers the new Quality Payment Program (QPP) which replaces the SGR payment formula with a new framework based on CMS-designated value and quality measures.
- The QPP consists of two payment pathways – the Merit-based Incentive Payment System (MIPS) and Advanced Alternative Payment Models (APMs).
- MIPS consolidates three existing value and quality programs: MU, PQRS, and the Value-based Modifier.
- The final rule adds flexible part-year reporting options to help practices transition to the QPP. However, a maximum penalty of -4% still exists for organizations who choose to report nothing in 2017.
We dove into the details on our last Health Reform Simplified Webinar. Listen to the recording if you missed it.
Here are some next steps to help prepare you for the next wave of possible change:
- Don’t miss November’s Monthly Health Reform Simplified session.
- Register for the MACRA Quality Payment Program Deeper Dives webinar series:
- December 1: MACRA’s MIPS Scoring System and Advanced Alternative Payment Models Category
- December 8: MACRA’s MIPS Quality and Cost Categories
- December 15: MACRA’s MIPS Advancing Care Information (ACI)
- December 22: MACRA’s MIPS Clinical Practice Improvement Activities
- Visit the MACRA page on Success Community.
- For more information from CMS, read Acting Administrator Andy Slavitt’s announcement on The CMS Blog about the final rule release. Review the CMS Quality Payment Program Overview Fact Sheet, or read the full 2,400-page ruling.
- Finally, visit the new Quality Payment Program website at qpp.cms.gov.