On Jan. 1, 2017, the final rule for the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) Quality Payment Program became effective. The Rule has been described as “the most profound change to the payment program in the last 60 years.” In short, predictably.
By way of background, MACRA repealed the Medicare sustainable growth rate methodology for updates to the physician fee schedule and replaced it with a new approach to payment called the Quality Payment Program (QPP), resulting in comprehensive changes to payments under Medicare Part B. The QPP is intended to reward the delivery of high-quality patient care through two tracks: The Merit-based Incentive Payment System (MIPS) for eligible physicians and groups and Advanced Alternative Payment Models (APMs) for a limited number of physicians and groups.
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