Here are six issues with the physician payment system, per the AMA:
1. Physician payment updates are not tied to inflation. Inflation-adjusted payments have continued to fall dramatically over the last 20 years as payment redistributions are caused by budget-neutrality adjustments.
2. The reporting requirements for the merit-based incentive payment system (MIPS) are too burdensome. They are also often clinically irrelevant.
3. The role of the Medicare Economic Index has diminished since 1992. Physicians need an annual inflationary update.
4. Alternative payment models are the key to achieving value-based care by way of providing incentive payments to deliver high-quality and cost-efficient care.
5. The CMS clinical data registry approval process under the MIPS is complex and difficult, and the lack of accessible cost data inhibits progress toward value-based care.
6. Physicians in MIPS need access to more information on a timely basis to discern gaps in healthcare and identify new opportunities to improve health outcomes.
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