Medicare Access and CHIP Reauthorization Act of 2015 (MACRA)
With the passage of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), Medicare will change from a volume-based system to a value-based system. Key features of this law include:
- Repeal of the flawed SGR rate, eliminating threat of sudden payment cuts
- Provides for automatic increases in Medicare reimbursements if you are in an Advanced Alternative Payment Model (A-APM)
- Creates a new Merit-Based Incentive Payment System (MIPS) which consolidates several existing Medicare incentive programs (penalties apply if goals not met)
- Provides incentives for physicians to participate in A-APM's such as Accountable Care Organizations (ACO) and Comprehensive Primary Care Plus (CPC+)
TIMELINE OF MACRA