What is MACRA?
MACRA is the Medicare Access and CHIP Reauthorization Act of 2015, which was finalized on October 14, 2016. MACRA is Medicare’s most recent initiative to directly tie Medicare payments to patient quality outcomes since the Department of Health and Human Services (HHS) began launching quality initiatives in 2001. MACRA’s first performance year begins January 1, 2017 and will have a significant impact on all healthcare providers’ reimbursement. It is more important now than ever before to take the appropriate steps to maximize your potential for increased revenue and mitigate your risks of payment decreases.
There are two payment models presented in MACRA:
- Advanced Alternative Payment Models (Advanced APMs)
- Merit-based Incentive Payment Systems (MIPS)