MACRA 2018 Final Changes Update: Head Off 5% Medicare Pay Cut
How you are paid by Medicare is being turned upside down. You’d better be ready to accurately submit your data or you can count on seeing your Medicare reimbursement drop.
Instead of paying you entirely on the number and type of services you provide, Medicare has moved to a Pay for Value system. You’ll be measured on your clinical outcomes (Quality), EHR utilization, improvement activities and eventually on resource use (Cost). So, how you’re paid by Medicare is dependent on the information you submit.
For most physician practices, this means reporting data under the Merit-Based Incentive Payment System (MIPS). You’ve been cut some slack for your 2017 data, but in 2018 failing to participate and submit your data will result in a 5% reduction in your standard Medicare payments.
Recently, there were some important changes to the reporting period for some MIPS categories, so what and how you submit your data may not be what you thought. Accordingly, it’s essential that you have a plan in place, and Jeanne Chamberlin, MA, FACMPE will provide key tips during her 90-minute online training session.
Here are just a few of the step-by-step, practical tactics you’ll receive during her 90-minute online training:
IMPORTANT: Going forward your MIPS scores will have a direct result on the number of patients you see. Your scores will be published publicly online for your patients to review, and Medicare will be encouraging seniors to use them to choose their providers. How you gather, calculate and submit your MIPS data could make or break your practice.
Right now, MACRA just affects you if you see Medicare patients. However, you can bet that commercial payers are watching Medicare’s progress in this Pay for Value system. You can expect commercial payers will follow Medicare’s lead in the coming years – they usually do.
You can get the help you need to ensure you are reporting your data in the best light possible to ensure you receive the highest allowable reimbursement, and maintain your patient volume. Don’t wait, take advantage of this must-have online training session today.
Meet Your Expert: Jeanne Chamberlin, FACMPE
Jeanne Chamberlin is currently a Practice Management Consultant with MSOC Health, assisting dozens of practices with the Merit-Based Incentive Payment System (MIPS). Over the past five years, she has worked with dozens of medical practices to assess and revise processes that will improve efficiency and maximize profit. As practice administrator of a 10-physician multi-specialty practice, Jeanne first implemented processes to capture and report quality measures for the PQRS program in 2007. As a consultant with MSOC Health, she has assisted a wide variety of providers with implementing EHR systems, as well as utilizing these systems to achieve Meaningful Use and PQRS bonuses. Jeanne has presented on these topics at numerous conferences and seminars throughout North Carolina. During her 30 years in the healthcare industry, Jeanne has worked in independent medical practices, health systems, state government, and software development. She holds a Masters Degree in Public Policy from Duke University and is a member of the leadership council of North Carolina Medical Group Managers and is Past-President of Triangle Medical Managers.
This program meets AAPC guidelines for 1.5 CEUs. On Demand product requires successful completion of a Post-Test for Core A and all specialties except CDEO, CPEDC, CPMS and CIRCC for continuing education units.
“It was great.”
- Sabrina Hobbs, VP of Physician Services, Highlands Health Systems, Prestonburg, KY
- Trents Wirtz, Practice Administrator, Meridian Surgical, PC, Holly Springs, GA
“Very organized and up to date.”
- Michael Infantino, Executive Partner, NY Cardiovascular Associates, New York, NY