This post was contributed by Ezequiel Silva III, MD, FACR, chair of the American College of Radiology Commission on Economics.
As previously noted here, payment change is getting real.
The Medicare Access and CHIP Reauthorization Act (MACRA) repealed the sustainable growth rate (SGR) formula. It also replaces existing quality programs with the Quality Payment Programs (QPP) in which physician payments will be based on participation in one of two pathways: the Merit-Based Incentive Payment System (MIPS) or Alternative Payment Models (APMs). These programs reward physicians based on performance data and taking part in new payment and delivery models.
With this new law in place, each of us (or at least someone in our practices) is going to have to learn to pass “MACRA economics.”
ACR continues to develop tools to help us do that. The new “Be MACRA Ready” section on the ACR website provides MACRA basics.
- What Are MIPS and APMs, as Defined by MACRA?
- What Do I Need to Know (About MACRA)?
- What Do I Need to Do (to Be MACRA Ready)?
The College is developing more in-depth materials and easily accessed resources for members, as the Centers for Medicare & Medicaid Services (CMS) clarifies how MACRA may be implemented. But, I would invite you to get started now with the wealth of materials the College already has in place.
We are all in this together.
What are you and/or your practice doing to get ready for the transition from volume- to value-based care? What lessons have you learned from the process? We can learn from each other.