Concerned about MACRA? Don’t panic and enjoy the holidays!
Looking back at 2016, many independent physicians are likely to think, “MACRA.” The prominent legislation keeps making headlines focusing on ramifications that two value-based payment options – Merit-based Incentive System (MIPS) or Alternative Payment Models (APMs) – will have on practices’ ability to get paid for delivering care.
Granted all MACRA’s complexities, practices do not need to panic, contrary to many headlines. 2017 is a transition year that will allow both practices and vendors to prepare for more extensive changes in 2018. Under Meaningful Use, practices have already been performing according to a lot of MACRA requirements.
Here is what practices will need to do in 2017:
- Pick a payment option: MIPS or APM. Most practices are likely to fall under MIPS.
- Submit data on 1 (one) of many performance categories – including those that practices have already been using. Under MIPS, practices will see familiar categories, such as quality and improvement activities, e-prescribing and patient engagement.
- Realize that nothing needs to change in terms of EHR in 2017. However, EHR vendors will need to be 2015 CEHRT-certified for 2018 reporting.
- Prepare to learn about how to report data in the most beneficial way in 2018. EHR vendors will work with practices to meet the regulation without the immediate pressure of being penalized for non-compliance.
AdvancedMD has a wealth of information on the rule and how to comply. Check back often for new free educational events.
Visit the AdvancedMD Understand MACRA & MIPS for your Practice webpage.
Download our exclusive eGuide The MACRA Guide: Survive & Thrive for all you need to know to get paid as an independent practice.
Meanwhile, happy holidays from our team to yours!