On Nov. 2 CMS released the final QPP rule for the 2018 performance year. Based on the new scoring system, reporting for a full year—starting from Jan. 1—could earn you up to a 5% positive payment adjustment. And in fact, measures in the Quality category must now be reported for the full year. The time to take action is now!
Remember, the QPP is a budget-neutral program. This means incentives are funded by penalties. Don't let your penalties become another providers profit. Make sure that you are on the right side of this equation by reporting a full year of performance measures in 2018.
For independent medical and specialty practices, we've compiled the essential information you need to understand MACRA, the Quality Payment Program and MIPS reporting. Download the Clinician Guide to the MACRA 2018 Quality Payment Program.
Also, here's a quick run-through of all the acronyms you'll be seeing during your road to CMS incentive program reporting:
The Medicare Access and CHIP Reauthorization Act (MACRA) is legislation that replaced the Sustainable Growth Rate (SGR). It outlines a new program for physician reimbursement that replaces fee-for-service with value-based payments under the Quality Payment Program (QPP). The QPP is the portion of MACRA that defines the new value-based reimbursement system. It has two reporting tracks: the Merit-Based Incentive Program (MIPS) and Advanced Alternative Payment Models (APMs). The QPP replaced and consolidated the previous Meaningful Use (MU), PQRS, and value-based modifier programs.
MACRA’s overarching goal is to improve patients' quality of care while lowering cost to patients. For this end, Medicare payments are now tied to quality and value-based performance measures. But what does this mean for clinicians and especially those providing care in small, independent practices? How can they balance providing quality care to their patients with reporting on the quality care they're providing.
We've compiled a MACRA resource page specifically for independent practices feeling this squeeze. Check out the three webinars in particular and learn how Kareo can help.