MACRA replaces the service based payment with the value-based payment system. This change has brought about a number of challenges for the physicians, which they have to overcome in order to continue to have a hassle-free practice. Some of the most common challenges that a physician has to overcome when dealing with MACRA are as follows:
Staying aware of the MACRA and MIPS details
Despite having come into practice in 2015, many physicians are still unaware of the intricacies of the MACRA. You should know that the data will be made available on the web for everyone to see since the Centers for Medicare and Medicaid Services (CMS) will publish it on their Physician Compare website.
It is common knowledge that you have to report on six key measures. But did you know that you can use different metrics to do so in order to showcase your practice in a good light? You should also be well aware of predicting your MIPS (Merit-Based Incentive Payment System) in order to avoid any surprise costs.
Equipping yourself with MIPS technology
A large percentage of clinicians are unaware of the existence of the MIPS Compliance Technology. Incorporating new technological advancements as early as possible can reduce irregularities and can also familiarize your staff with it. This will take your mind off the billing processes and instead enable you to focus on fostering your practice instead.
MIPS has opened up new avenues for technology vendors to develop efficient and easy to use fixtures that sure to become an asset to your practice. Most of these systems are scalable, i.e, they can be further developed and upgraded to include any new challenges that you might have to face in the future.
Keeping up with the changing times begins with basic systems. EHR is one such asset that ought to be upgraded to meet the new MIPS guidelines. Ensuring that these systems work well with the vendors ensures that you can properly categorize and report the data with ease. It is recommended that practices begin to use EHR technology that is certified for 2015 in order to stay in tandem with the overall systems. Upgrading the EHR systems by 2018 will help providers with their billing and associated practices.
The struggle to align data
Data management has always posed a significant problem in the past as well. With the advent of the new MACRA requirements, it has only gotten more convoluted among the practitioners. But that is only because they aren’t fully aware of how to go about it. The new guidelines are quite simple and easy to follow, even for smaller practices that are only equipped with small admin teams.
Outsourcing medical billing has been quite a popular option in the past. However, since MACRA has been in place, the number of physicians who opt to outsource their billing has increased significantly. The only problem is that they wait until the end to approach a suitable bling service provider. This costs them in time, money and even quality, depending on their choice.
At MedConverge, we help our clients to easily overcome these challenges, thus ensuring that their billing is in the right order, which makes it easy to file for reimbursements without any hassles.
- Finnegan, J. (2017, May 11). 5 top MACRA challenges for physician practices. Retrieved May 21, 2017, from Fierce Healthcare: http://www.fiercehealthcare.com/practices/5-top-macra-challenges-for-physician-practices
- Lee, K. (2017, May 10). The top four MACRA and MIPS trends challenging providers. Retrieved May 21, 2017, from SearchHealthIT: http://searchhealthit.techtarget.com/blog/Health-IT-Pulse/The-top-four-MACRA-and-MIPS-trends-challenging-providers
- LLC, B. B. (2017, May 8). Black Book Identifies 10 Top MACRA Trends Challenging Providers With Value-Based Care and Quality Metrics. Retrieved May 21, 2017, from PR Newswire: http://www.prnewswire.com/news-releases/black-book-identifies-10-top-macra-trends-challenging-providers-with-value-based-care-and-quality-metrics-300453556.html