MACRA - All You Need to Know
On October 14, 2016, the Centers for Medicare & Medicaid Services (CMS) released a final rule that implements the Medicare Quality Payment Program (QPP). The rule describes key aspects of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). MACRA replaces the current Sustainable Growth Rate (SGR) formula for physician payments with a new value based payment model.
Under the final rule, healthcare professionals will have to start reporting quality data for 2017, to avoid negative payment adjustments in 2019. While the complexity of shift towards value based payment models may seem overwhelming, it is important to prepare now and avoid the payment adjustments. Here are manageable bits of information that will help you understand MACRA and get started.
