In January of 2017 many providers around the country will begin to operate under the new regulations defined under the Medicare Access and CHIP Reauthorization Act of 2015.
For qualifying providers, Medicare reimbursements will be subject to the newly formed Merit-Based Incentive Payment System (MIPS) program. What a provider chooses to do in 2017 can have significant effects on the provider's compensation in 2019.
The impacts of this change can range from
22% GAIN
of Medicare reimbursements for 2017
4% LOSS
of Medicare reimbursements for 2017
Where a given provider practice falls on this spectrum is largely determined by their approach to the program. Some providers will choose a proactive approach while others choose more of a wait and see-reactive approach. We explore the outcomes from each vantage point:
For Example:
Thereby, each physician in this 3 provider primary practice will feel the following effects to their annual compensation in 2019:
As the years progress, the range in how much a provider will lose or gain gets substantially larger. Starting off as a proactive provider in 2017 can set you and your practice up for a better financial future.
Graphic from CMS- https://qpp.cms.gov/