Benjamin Franklin claimed there are only two certainties in life: death and taxes. Had he lived in modern times he may have added a third: many health care organizations will be ill-prepared to adapt to rules that will impact them a great deal.
The most contemporary example of this is the Medicare Access & CHIP Reauthorization Act (MACRA) of 2015, provisions of which will start to kick in as soon as January 2017. Barring a last-minute pardon from CMS, physician practices will need to be well-versed in this quality-based reimbursement reform. Otherwise a substantial amount of reimbursement in the coming years could be in serious jeopardy.
While some are viewing MACRA as an imposition or a nuisance, the Act presents a great opportunity for providers who are willing and able to understand and change how they practice and follow the measures. At Stroudwater, we offer knowledge and proprietary products that can help both hospitals and independent physicians navigate and conform with the requirements of MACRA. We can help you take a hard look at your quality indicators and determine where your reimbursement risks and opportunities exist, providing in-depth analysis of these and other pertinent questions:
- Where are you on measures?
- How will you assess your results?
- How will your work turn into revenue under MACRA?
- How will this be integrated with your electronic medical record?
- How will you capture what you’re doing so you are reimbursed later on?
If you’re unsure of where to begin or where to go next as it relates to MACRA, give us a call. Just don’t wait too long. Starting out the year knowing what to track and how to do it will pay dividends now and in the future.
Carol Alexander is a Principal at Stroudwater.