Healthcare has seen its share of disruption and MACRA (the Medicare Access and CHIP Reauthorization Act) is yet another cause for confusion. This landmark legislation changes how Medicare pays physicians who provide care to Medicare beneficiaries by scoring the physicians on the quality of care they provide.
This change has the potential to significantly impact your organization's revenue if you do not have the processes, procedures and systems in place. This new regulatory environment could ultimately result in physician and patient loss.
Proactive research starts by understanding the MACRA implementation timeline (see below), what takes place during each phase and how it affects your organization. You should also be able to answer or start thinking about answers to the following questions.
- Are we ready for the new performance reporting that begins on Jan. 1, 2017?
- Do we understand both the upside payment gain and downside penalty impacts?
- Do we have the right people, technologies and processes in place to be prepared for MACRA?
MACRA implementation timeline
- CMS has proposed beginning the performance period in 2017. Payment adjustments will take place in 2019.
- November 2016: Deadline for final quality measures for first performance period
- 2017: MIPS data collection for 2019 payment adjustment
- Jan. 1, 2018: Deadline to include new codes on Medicare claims
- March 31, 2018: Last day to submit 2017 data
- Dec. 31, 2018: Deadline for achieving national priority of widespread interoperability of EHRs
- Jan. 1, 2019: First MIPS payment adjustment
Implementing MACRA readiness solutions that start with financial and operational assessments and lead your organization to develop a strategic roadmap will position your organization to understand the total impact of MACRA to your margins, financial performance and overall operations.