What is the MACRA Quality Payment Program?
The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) ended the Sustainable Growth Rate formula, which calculated payment cuts for clinicians participating in Medicare. If you participate in Medicare Part B, you are part of the dedicated team of clinicians who serve more than 55 million Americans. For eligible clinicians, the Quality Payment Program will provide new tools and resources to help you give your patients the best possible care. The Quality Payment Program creates a new framework for rewarding clinicians who provide higher-value care.
You can choose how you want to participate based on your practice size, specialty, location, or patient population. Regardless of the model you choose, health IT can play an important role in supporting your ability to track and report your organizations’ information to CMS.
Quality Payment Program Tracks
The Quality Payment Program has two tracks you can choose:
The Merit-based Incentive Payment System (MIPS)
If you decide to participate in MIPS, you will earn a performance-based payment adjustment.
If you decide to participate in an Advanced APM, through Medicare Part B you may earn an incentive payment for participating in an innovative payment model in addition to any APM payments.