Here Are Your Articles for Tuesday, June 06, 2017
Is this email not displaying correctly?
View it in your browser .
Website Services Industries Resources About Us Contact Us
Share Save

Make Adjustments Now to Avoid Multiple Pain Points

 

Beginning January 1, 2017, physicians can start participating in Medicare's Quality Payment Program (QPP). In order to avoid facing multiple pain points, now is the time to make final adjustments for the new value-based payment system.

In 2015, Congress established the QPP through the Medicare Access & CHIP Reauthorization Act (MACRA). There are two payment tracks under QPP:

  • Starting in 2019, most clinicians receiving reimbursement through QPP will be paid through the Merit-based Incentive Payment System (MIPS), which features data reporting in four performance categories that drive payment bonus and penalty mechanisms
  • Clinicians participating in MACRA-approved alternative payment models (APMs) such as the Medicare Shared Savings Program can earn 5% payment bonuses.

"Pick-your-pace" reporting for QPP started this year, with associated payment adjustments set to begin in 2019. Next year, a more mandatory approach to QPP data reporting—with bigger financial consequences for clinician compensation—will begin.

The QPP should be viewed as an opportunity to improve physician practices.

Based on a recent survey of physicians conducted by Black Book Research, these are the top ten challenges physician practices are facing.

If you have questions or need assistance with an assessment of your readiness and an action plan for 2017, please contact Nelda Fields at (843) 873-4400 or nfields@websterrogers.com.

 
Share Save

Your Comments

Nelda Fields | Debra Turner
Nelda Fields | Debra Turner
Healthcare Services Group | Partners
(843) 577-5843
healthcare@websterrogers.com
40 Calhoun Street, Suite 320
Charleston, SC 29401
Friend Me on Facebook
Follow Me on Twitter
Connect with me on LinkedIn
Saved Articles
Comments and Feedback
Refer A Friend
Your Privacy
Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
Powered by
Copyright © IndustryNewsletters All rights reserved.

This email was sent to: rhowell@websterrogers.com

Mailing address: 40 Calhoun Street, Suite 320, Charleston, SC 29401