MACRA stands for the Medicare Access and CHIP Reauthorization. MACRA was signed into law in early 2015. This act makes tremendous changes to the government’s healthcare payment system. MACRA was put in place to reward providers for better, lower-cost patient-driven care. The Center for Medicare Services promotes the shift away from fee-for-service payments to adopt payment models such as (APMs) to hit industry goals of having 50% of Medicare payments made through APMs and having 90% of remaining fee-for-service payments tied to quality and value by the end of 2018.
The first performance year started on January 1, 2017 and will impact payments adjustments in 2019. MACRA, and the Quality Payment Programs that comes out of it, will impact most providers across the country. Adjustments will start in 2019 based on your 2017 performance, and by 2022, they are expected to increase to up to 9%. This means that if you bill $1,000,000 per year in Medicare, your MIPS performance can make up to a $180,000 difference in your income starting in 2024. That adds up fast. For more information go to the CMS website to see if you must participate: qpp.cms.gov or for more details on MACRA & MIPS click here.
When you partner with Madrelle, we take away the stress of understanding and attesting to the MACRA & MIPS program. Madrelle understands how time-consuming and how frustrating it can be when trying to keep track of all the complex aspects of reporting. We work diligently to stay up-to-date with changes. Madrelle has the solutions you need to success with MACRA & MIPS. Our preferred modernized system utilizes organized health-system-generated and patient-generated information, that will help accuracy, modernize workflows and give you valuable perceptions that will allow you to succeed.