Despite potential repeal of the Affordable Care Act under the new administration, the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) and commitment to cost-effective, value-based care is here to stay.
Congress overwhelmingly passed MACRA legislation with bipartisan support in both chambers of Congress to overhaul the way physicians are reimbursed under Medicare. MACRA will eventually transition physicians toward more value-based payments. Ignore MACRA in 2017, and you will face an automatic reduction of 4% to your payments under Medicare in 2019.
You should take advantage of 2017 being a transition year during which time you can pick your pace for participation to help you increase your earning potential. If you are already reporting to the 2016 Physician Quality Reporting System (PQRS), you will be familiar with some of the 2017 participation options that could qualify you for a reimbursement incentive in 2019 under MACRA.
If you have not participated in PQRS in 2016 or previous years, you need to start gathering information for your practice to begin reporting through one of the new MACRA 2017 reporting options by Oct. 2, 2017. Quality accounts for the highest percentage of your score and will help you maximize your potential for a positive adjustment.
AGA can help – check out our MACRA resources at gastro.org/MACRA and on the AGA Community.
