What is MACRA?
MACRA is the Medicare Access and CHIP Reauthorization Act. MACRA replaces the current Medicare repayment plan with another compensation for-execution program that is centered around quality, worth, and responsibility. The Centers for Medicare and Medicaid Services (CMS) expressed that MACRA institutes another payment structure that rewards medical care suppliers for giving better consideration rather than more service.
This program joins the Physician Quality Reporting System, Value-Based Modifier, and Meaningful Use to shape the Quality Payment Program. The health care suppliers can take an interest through an Advanced Alternative Payment Model (APM) or the Merit-Based Incentive Payment System (MIPS).
Schedule a DemoMerit-Based Incentive Payment System (MIPS)
The Merit-Based Incentive Payment System (MIPS) will have it's first exhibition year beginning on January 1, 2017. MIPS permits suppliers to procure payment modifications in 2019 dependent on their detailing for three classes in 2017: Quality, Improvement Activities, and Advancing Care Information. On the off chance that you see in excess of 100 Medicare patients or bill more than $30,000 in Medicare Part B, you are qualified to participate in the Quality Payment Program.
The Composite Performance Score is based on four performance categories:
- Quality
- Meaningful use of certified electronic health records (EHR) technology
- Clinical practice improvement activities
- Resource use
The four performance categories are weighted:
- 50% for quality (PQRS/VBM)
- 25% for Meaningful Use
- 15% for clinical practice improvement
- 10% for resource use
