Under MACRA, physicians can participate in the Merit-Based Incentive Payment System or the Alternative Payment Models. MIPS consists of a weighted score of quality, resource use, meaningful use and practice improvement scores. Physicians have the opportunity to receive financial bonuses if they obtain good quality outcomes. However, many may face penalties if they fail to meet CMS’ requirements.
Here are four highlights:
1. Twenty-once percent of self-employed physicians and physicians in independently-owned medical practices reported being familiar with MACRA.
2. However, only nine percent of physicians employed by hospitals, health systems or medical groups were familiar with the law.
3. Eighty percent of responding physicians reported preferring the fee-for-service payment model.
4. Fifty-eight percent of respondents says they would join a larger organization under MACRA to have access to more resources.
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