With some tenets of the Medicare Access & CHIP Reauthorization Act (MACRA) set to be enforced in January 2017, an opportunity exists for hospitals and independent physicians to generate some mutual goodwill.
By forging a partnership – not an acquisition – with respect to this revised reimbursement legislation, each side stands to gain a great deal:
- For hospitals, sharing your administrative understanding of MACRA with independents can build loyalty among physicians who wish to remain independent. In time, this approach could lead to additional referrals or first refusal should the practice ever wish to affiliate with a hospital.
- For independent practices, if you don’t understand how to apply MACRA to the workings of your practice, a hospital’s shared administrative knowledge could be the lifeline that’s the difference between a healthy practice and one that goes out of business when a financial hit comes down the road.
As I’ve mentioned before, many organizations are viewing MACRA as a nuisance or inconvenience; you may feel that way, but knowing more about the Act is essential to long-term financial health. And while it comes with its own set of challenges, there are opportunities to be uncovered that can help your organization share in the burden and reap the benefits of a switch to more quality-based reimbursement.