Are you ready for MACRA and the QPP?
MACRA (Medicare Access & CHIP Reauthorization Act of 2015) is a statutory change to how Medicare pays physicians. The Quality Payment Program defines bonuses and penalties for physicians in 2019 and beyond based on what they do in 2017. Many physician practices have not prepared for this program.
QPP is a "voluntary" program that took effect in January 2017. However, it has a huge impact on physician reimbursements for the next seven years, redistributing payments by up to 18% by 2023 (since top performers can gain up to 9% bonuses and non-participants will lose up to 9%).
It is important that physicians who see patients and/or perform procedures under Medicare understand how MACRA and the QPP impacts them. Also, check out the article, How Much are Doctors Leaving on the Table with MACRA?
Unfortunately many doctors will miss out on potential bonuses in 2019 or face Medicare penalties, base on what they do to address the requirements of the Quality Payment Program. Many physicians have not understood several aspects of QPP for 2017:
- Why do I need to do anything different?
- Why can't I wait and see?
- What is the harm in waiting till Oct 2017 to get started?
- What are my options to participate?
- Am I even affected by the QPP?
This series will help to answer those questions. You also may be interested in the article: How Much Are Doctors Leaving on the Table with MACRA?
If you are a physician, you can check out the link below at CMS.gov. Medicare will let you know if you are under the new MIPS program.
Introduction to MACRA and the Quality Payment Program
This 5-part series covers the following topics:
- Part 1: The Big Picture of the Quality Payment Program established by MACRA.
- Part 2: Who is impacted under QPP?
- Part 3: More about the APM path
- Part 4: More about the MIPS path
- Part 5: How to get started with the QPP in 2017
Part 1 covers the following three questions:
- Why Should I Care?
- What is MACRA?
- What is the QPP?
Part 2 describes how the QPP will impact physicians who were immune to prior CMS programs like Meaningful Use.
Parts 3 and 4 describe the two major options for physicians participating with the QPP.
Part 5 helps provide some major tips on how to get started now on meeting the QPP requirements during 2017.