The American Medical Association (AMA) is undertaking a new national study, supported by 173 healthcare organizations, to collect representative data on physician practice expenses. The aim of the Physician Practice Information Survey is to better understand the costs faced by today’s…
Act Now to Avoid MACRA Penalties
Before the close of 2017, all physicians must take action to avoid the 4 percent cut that will be assessed in 2019 for not participating in the new Quality Payment Program (QPP) authorized by the Medicare Access and CHIP Reauthorization Act (MACRA). 2017 marked the first year that the QPP requires physicians to participate in either the Merit-Based Incentive Payment System (MIPS) or an advanced alternative payment model, and the majority of physicians find themselves required to participate in MIPS.
The Centers for Medicare & Medicaid Services designated 2017 a transition year, providing time for physicians to familiarize themselves with the new program and its requirements. Physicians must report a single measure on a single patient for an encounter that took place this calendar year. Those who opt not to report this quality information will be assessed the penalty in 2019. The American Medical Association has developed an online resource center that provides more details on the QPP, how to participate successfully in 2017, and the requirements for future years.
