November 30, 2016
Kate Goodrich, MD, Director of the Center for Clinical Standards and Quality for the Centers for Medicare and Medicaid Services (CMS), spoke about implementing the “MACRA Final Rule” at the November meeting of the Council of Medical Specialty Societies.
CMS is rolling out a “Pick Your Pace” system to help clinicians make the transition to a new payment system. Not participating in the Quality Payment Program for the transition year will result in a negative 4% payment adjustment.
There are three options to report under MACRA's Merit-based Incentive Payment System, which is set to start on Jan. 1.
1) Report a full year of data and be eligible to receive the full bonus depending on performance.
2) Report all the MIPS-required data for less than a full year and stand to receive a smaller bonus.
3) Report just some data for part of the year. While there won’t be a bonus, there won’t be a penalty either.
Clinicians can also avoid reporting MIPS data by participating in an advanced alternative payment model. CMS reports that more details on possible APM pathways are forthcoming.
Medicare Part B physicians billing more than $30,000 a year and providing care for more than 100 Medicare patients a year are required to report.
For more information, please see the CMS Power Point which describes MACRA requirements and options. Also see the blog post written by the Acting Administrator of CMS, Andy Slavitt. You can also visit the CMS Quality Payment Program Education and Tools web page.
SNMMI attended this meeting and will continue to update our members as new information is released.