Independent private medical practices are getting closed, several experienced physicians are retiring and the medical schools offer insufficient seats for medical graduates- all these changes have impacted the primary care practices. But the new proposal by MACRA promises to decimate the private practice physician.
What is MACRA?
MACRA is the Medical Access and CHIP Reauthorization Act of 2016 which is often referred s “SGR fix” and it got a strong bi-partisan support during the time it was by both houses of Congress. There was an “information listening session: conducted for rural physicians and sponsored by CMS to spread awareness about the new proposal by MACRA.
According to the stated circular, the new plan will penalize seven out of ten small 1 or 2 physician practices in the country. They have complied with the statistical reports that demand to enhance the quality of medical care.
MIPS primarily consolidates with the modern day CMS quality programs, such as Physician Quality Reporting System, Medicare electronic health record incentive program and physician value based payment modifier. Believing the latest guidelines, these programs will be eliminated or they will cease to exist and get morphed into new program by MACRA.
MACRA Can Ease a Physician’s Practice in Following Ways:
- The clinicians do not require sending any report or data for this category.
- The physicians were earlier eligible to avail benefits through meaningful use and VM; the bonus will now increase to 5% in 2020, 7% in 2021 and around 9% after that.
- The top performers will be eligible to claim additional bonus which can exceed up to 10% by the end of 2019.
- Practitioners can claim additional points for reporting the data to the concerned authority. Medical practitioners.
- The physicians were able to receive penalties when not opting for PQRS reporting and other meaningful use measures, the physicians reporting under the MIPS can expect receiving penalties if their performance does not exceed up to the national benchmarks standards.
How Can You Avail Benefits Through the New MACRA Program?
The information and guidelines circulated by MACRA and MIPS sounds interesting make the new program look comparatively straight forward, but still there is much to be done yet, the real nuances are quite complicated. So, the first and foremost step should be to pursue thorough information about the latest guidelines and learn the actual program requirements.
Upon gaining sufficient knowledge, one should conduct a participation assessment to understand current reporting processes and to identify strength and weaknesses and what needs to be implemented.
The third step must be to explore the opportunities related with this program, give better performance by showing improvements and determine alternate care delivery models for clinical practices.
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