Important News – Medicare Access and CHIP Reauthorization Act (MACRA)

Important News – Medicare Access and CHIP Reauthorization Act (MACRA)

CMS and the Merit-Based Incentive Payment System and Alternative Payment ModelPhysicians Billing Service and companies specializing in Outsourcing Medical Billing are increasingly receiving questions about the Medicare Access and CHIP Reauthorization Act (MACRA) of 2015.  Specifically, how does it reform Medicare payment to respective medical practices, and what actions Physicians should take now to prepare for important changes taking place in 2017? highlights:

“The MACRA makes three important changes to how Medicare pays those who give care to Medicare beneficiaries. These changes create a Quality Payment Program (QPP):

  1. Ending the Sustainable Growth Rate (SGR) formula for determining Medicare payments for health care providers’ services.
  2. Making a new framework for rewarding health care providers for giving better care not more just more care.
  3. Combining our existing quality reporting programs into one new system.”

Moreover, the Center for Medicare and Medicaid Services notes, “these proposed changes, which we’ve named the Quality Payment Program, replace a patchwork system of Medicare reporting programs with a flexible system that allows you to choose from two paths that link quality to payments:

  1. Merit-Based Incentive Payment System (MIPS)
  2. Advanced Alternative Payment Models.”

The CMS presentation below, provides an important overview of MACRA’s goals, the Merit-Based Incentive Payment System (MIPs) and how MIPS changes how Medicare links performance to payment.

To learn more about MACRA on the CMS web site, click here.

Physicians Billing Service would be glad to assist your medical practice in better understanding MACRA and how your reimbursement will be affected.  Moreover, we can advise you on the benefits of either MIPs or Alternative Payment Models (APMs).

You can rest assured that our Medical Billing and Collection services,  start-up or set-up fees.  Moreover, Our Promise to Physicians is that we do not get paid until you get paid.  Whether your medical practice resides in Orlando FL and is seeking a cloud-based solution for EHR Software or Fairfax County VA and seeking a low-commitment, state-of-the-art Modular Practice Management, Physicians Billing Service is committed to your success.

For a confidential conversation with Michelle Stahl, Owner of one of the best medical billing companies in the United States, call (703) 978-0756 or use the Physicians Billing Service online contact form.

By Michelle Stahl, Owner, Physicians Billing Service

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