News about Quality payment program
The Center for Medicare and Medicaid Services has announced important information through a blog posting in their own blog. Have you heard the latest Quality Payment Program news? The news is all about the quality payment program which is about MACRA provisions. MACRA is short form of Medicare Access and CHIP Reauthorization Act which is going to begin as planned. The initial plans were made about this on January 2017. They have also informed that providers will get many other benefits especially to avoid adjustment of negative payment. The post was published on the blog of CMS by Acting Administrator.
Faculties provided:
Providers are allowed to report random data to the CMS about avoiding the negative payment. This is to check the system so that they can get prepared for the participation in terms of complete access in the coming years.
The first facility is offered to provide data before the performance year whereas the next facility is about participating in the performance year so that they can report accordingly. On the other hand the providers are qualified for positive payment as small adjustment. The number of years and the adjustment rate is yet to be finalized.
Next facility would really benefit the provider to the maximum because providers can participate and report in the performance year not partially but all through the year. They can report for the complete year and get payment adjustment as maximum as offered for them as they are qualified.
Receiving incentives is the next option for the providers. As the providers report in the performance year especially for the entire year then they become eligible to receive reimbursements from Medicare through advance payments. This will make them to qualify to receive incentive of 5% in their payment in the year 2019.
Option 3: Participate for the Entire Performance Year; Providers and practices that receive enough of their Medicare reimbursements through an approved Advanced Payment Model could qualify for a 5% incentive payment in 2019.
Actually MACRA pays to the providers through for two different criteria. Since it is all about the health care given by the providers, MACA pays health care providers based on their care given to the patients. The performance of the health care provider is evaluated under various norms to pay them on the basis of their merit. This is called as Merit Based Incentive Payment System.
CMS makes quality assessment for the performance of the provider gives weight age. Weightage is given for 50 percent and rest of the assessment will be based on the reported quality measures by the provider.
Next to the quality assessment the CMS would assess the resource usage of the provider because CMS weights 10% for the provider under this assessment. This assessment weightage is added to the Value Bases Payment Modifier program which is otherwise called as VM. The VM program collects the data and reimbursement details so that it can value the provider accordingly. This to score the provider for the use of the resource and the percentage of weightage will change year by year as per the service they rendered.
