September 21st, 2016 By: Alanna Diffendal
Believe it or not, only 50% of physicians surveyed have heard of MACRA (Medicare Access and CHIP Reauthorization Act). Many underlying issues arise with this scary statistic especially when MACRA will be effective by early 2017. “More still needs to be done in terms of provider preparation, especially as it relates to quality measures reporting,” stated Arien Malec, vice president of data platform and acquisition tools at RelayHealth, in Luke Gale’s article MACRA is Coming: A Quick Once-over Before the Final Rule.
The Centers for Medicare and Medicaid (CMS) have been outlining new reporting requirements for years that benefit providers, as long as they are clear on how to meet the requirements. However, providers are forced to spend about half of their workdays on administrative tasks instead of patient care to verify their practices are meeting these steps. In order for CMS to alleviate this strenuous and time consuming task for providers and allow them to get back to patient care, they have amended previous MACRA laws, which introduced new payment models.
In 2017, providers have the ability to choose between what is being referred to as the “pick-your-pace participation” with MACRA. The two options are:
- Providers can participate solely in reporting to avoid any penalties and passing on any bonus payments.
- Providers can participate for a portion of the year that will allow them to qualify for prorated penalties or bonus payments.
With 2017 approaching fast, providers need to be informed about the changes to MACRA reporting and need to know what they need to do in order to successfully participate. Many EHR vendors make meeting MACRA requirements difficult, but with RxNT|EHR the stress that comes with these tedious tasks is relieved. Find out more about RxNT’s electronic health records and how we can help you prepare for 2017, call us at 1-800-943-7968 option 3 or email us at Sales@RxNT.com.