It’s been just a little over a month since the CMS announced the MACRA final rule, and everyone has been scrambling to get educated and informed. But it isn’t easy. The rule is long and complex, it requires work for vendors to make adjustments to their software to help their customers comply, and eligible clinicians and their staff have a lot to learn.
This month, Kareo asked independent practice providers and staff to take a short survey so we could understand where they stand with MACRA. The results? Well, in general there is a lot of uncertainty, but the majority expect to do their best to participate.
Here is a quick recap of the responses:
- Only 17% of respondents felt they understood what MACRA requires of the practice
- 63% said they were unsure about whether or not MACRA would reduce their reimbursement
- 62% felt that MACA would increase the reporting burden on the practice
- 85% said they would participate to the best of their ability
- Only 2% said they would stop seeing Medicare patients and 2% said they would accelerate retirement or close/sell their practice
One last question that was asked was the role that software vendors play in MACRA success. Sixty-three percent of respondents said they felt that their healthcare IT vendors would play a somewhat important or very important role in their success. This final set of responses isn’t surprising since participation in MACRA’s Quality Payment Program (QPP) requires the use of a certified EHR.
The overall responses from the survey suggest that most providers are eager to participate to avoid penalties but still need a lot of education and support to get there. With just over a month until the QPP reporting period starts, now is the time to get familiar with the requirements.
For resources to help you get started, visit the Kareo MACRA Resource Center.