One date marked on the calendar of many individuals at the management level of health organizations is January 1, 2017. To some 2017 is being viewed as a “year of reckoning“. Although this sounds ominous, most negative effects on health organizations can be easily avoided as long as providers are prepared for MACRA. Since 2015, MACRA has been slowly integrated into the operations of medial organizations across the country. In 2017, the performance of medical organizations that qualify as MIPS will be tracked and these results will determine how providers are paid in 2019.
This may sound a bit confusing. It sounds like money’s on the line. It sounds like big changes are coming. But what exactly does MACRA mean and what exactly is a MIPS? To answer these questions I’ve put together a brief starter guide to MACRA and what it means for the healthcare industry.
What is MACRA?
In a nutshell, MACRA is new set of rules and regulations that will reshape the way that medical organizations receive government funding, handle Medicare, and ultimately function.