The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) enacted a new Medicare payment model to reward physicians and other clinicians for delivering better care, not just more care. The MACRA Quality Payment Program (QPP) provides two paths that link payment updates with value-based requirements: The Merit-Based Incentive Payment System (MIPS) and Advanced Alternative Payment Models (A-APM’s). MIPS is intended to measure - and adjust payments based on - the value of care provided across four categories, with bonuses for meeting exceptional performance thresholds.
The Bottom Line:
If you strategically manage your performance through MIPS implementation and reporting, you could improve the quality and value of the care you provide, increase your Medicare payments year over year, and position yourself for success in other government and private sector value-based care programs.