MACRA and MIPS

INTRO TO MACRA AND MIPS

MACRA is a legislation act or law that governs the Medicare payment system for clinicians and assures quality payment based on MACRA guidelines for reimbursements.

macra quality payment program

Quality Payment Program

The Medicare Access and Reauthorization Act of 2015 (MACRA) provides unparalleled financial opportunities and reimbursements for their value-based care.

The Quality Payment Program offers two reimbursement tracks: Merit-Based Incentive Payment System (MIPS) and Advanced Alternative Payment Models (APMs).

MIPS stands for the Merit-based Incentive Payment System for value-based reimbursement under the Quality Payment Program to elevate the ongoing improvement and innovation to clinical activities.

APMs or Advanced Alternative Payment Methods provide added incentive payments to offer cost-efficient and high-quality care.

ELIGIBILITY

Clinicians that charge more than $90,000 a year in allowed charges for covered professional services under the Medicare Physician Fee Schedule (PFS), and provide covered professional services to more than 200 Medicare payees, and furnish more than 200 covered professional services under the PFS.

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Eligibility Payment Program

Why report MIPS?

MIPS or Merit-Based Incentive Payment System is the program that determines Medicare payment adjustments.

Enroll and authenticate to MIPS Quality Payment Program to assist you in value-based care for higher reimbursements. With a compounded performance score, qualified clinicians may receive a payment bonus, a payment penalty, or no payment adjustment.

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