Many physicians have questions about how they will get paid under the Medicare Access and CHIP Reauthorization Act but CMS is providing them with answers. According to Modern Healthcare, the rule provided more clarity around the CMS’ proposed Quality Payment Program, which consolidates three existing methods: the Physician Quality Reporting System, the Physician Value-based Payment Modifier and Medicare’s incentive program for achieving meaningful use of electronic health records.
Agency officials believe the new consolidated program offers physicians’ greater simplicity and flexibility. Which, includes the two payment options: The Merit-based Incentive Payment System, or MIPS, or have a significant amount of their revenue generated under a qualifying Alternative Payment Model, or APM. CMS expects that in the first year of the program year, physicians will choose the MIPS path. According to Dr. Patrick Conway, the CMS’ chief medical officer, APM path reflects traditional Medicare payments in the first two years before it opens to all payers, including Medicare Advantage plans.
The proposed rule, excludes the Bundled Payment for Care Improvement models and Track 1of the Medicare Shared Savings Program. These new quality measures under Medicare Access and CHIP Reauthorization Actin both MIPS AND APM have their pros and cons but the CMS is providing efficient information to keep physicians up to date.