Here are five takeaways from MedPAC’s June report:
1. The report examines issues affecting Medicare beneficiaries’ access to primary care. MedPAC recommends eliminating “incident to” billing for advanced practice registered nurses and physician assistants and refining their specialty designations to give Medicare a fuller accounting of the services provided by these clinicians and to improve policymakers’ ability to target resources toward primary care.
2. MedPAC said policymakers may want to explore a loan repayment program or scholarship for geriatricians to increase Medicare beneficiary access to their services.
3. MedPAC said the Medicare Advantage quality bonus program is flawed and inconsistent with its principles for quality measurement. In its June report, MedPAC discusses an option to replace the quality bonus program with a Medicare Advantage value incentive program.
4. The Medicare Advantage value incentive program would be budget neutral and financed through withholding a small percentage of plan payments.
5. Rising prices account for the majority of spending growth for drugs covered under Medicare Part B. Building on its recommendation from June 2017, MedPAC examines two strategies — reference pricing and binding arbitration — to improve price competition for Part B drugs.
Access the full MedPAC report here.
More articles on healthcare finance:
ProMedica’s operating loss more than triples in Q1
Tennessee hospital abruptly closes
Washington hospital charged thousands of patients hidden ER fee, lawsuit claims
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
