OBERD offers MIPS preparation advice
CMS's new Merit-Based Incentive Payment System (MIPS) will transform how Medicare reimbursements are calculated for the vast majority of physicians. To assist physicians better navigate the new law, OBERD's Compliance Analyst Velyn Persaud, M.D., M.H.A. has written "How to prepare for the MIPS provision of MACRA." The article offers practical advice to physicians as they migrate to a value-based healthcare model, including actionable steps for MIPS preparation. The article is published in Becker's Hospital Review, the leading source of cutting-edge business and legal information for healthcare industry leaders.
"Since it was first proposed by the Centers for Medicare & Medicaid Services, the Medicare Access and CHIP Reauthorization Act of 2015, or MACRA, has generated much confusion and uncertainty.
This complicated piece of legislation, which modifies the physician reimbursement schedule issued by Medicare, aims to drive the healthcare industry toward better care, smarter spending, and healthier people with its key provisions. Ultimately, the goal of MACRA is to shift healthcare delivery in the United States from a fee-for-service model to one based on the concept of fee-for-value.
This legislation will fundamentally change the reimbursement model that currently covers healthcare providers serving nearly 90 million consumers. MACRA's Quality Payment Program establishes a two-track system for Medicare reimbursement: the Alternative Payment Model and the Merit-Based Incentive Payment System, or MIPS. Initially, the vast majority of providers who operate under the Medicare framework will fall under the MIPS payment program, with the use of Alternative Payment Model expected to grow over time..."