RCM tip of the day: Prepare for MACRA now despite reporting exemptions

Healthcare providers should do everything they can to prepare for the Medicare Access and CHIP Reauthorization Act, even if they may be exempt from 2018 Quality Payment Program reporting, according to Joncé Smith, vice president of revenue cycle management at Bethel Park, Pa.-based Stoltenberg Consulting.

Ms. Smith shared the following tip with Becker's Hospital Review.

"While some practices may find themselves exempt from 2018 QPP reporting, ignoring the program does not make it disappear. Failure to consider practice participation now may result in failure to maximize reimbursement opportunities in the future — particularly as organizations must strategically coordinate data capture, maintenance and analysis of program measures. A great place to start is a review of your past Physician Quality Reporting Program and Value-Based Payment Modifier to determine quality and cost performance, which funnel into MACRA. Additionally, leveraging the filters and search options on the QPP Merit-based Incentive Payment System measure guide allows practices to identify measure options that align best with their existing data. A little preparation will go a long way, and can set organizations up for success to achieve larger financial bonus options down the road."

Read about the 2018 proposed rule for MACRA's QPP here.

If you would like to share your RCM best practices, please email Kelly Gooch at kgooch@beckershealthcare.com to be featured in the "RCM tip of the day" series.

 

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