MACRA

The Medicare Access and CHIP Reauthorization Act (MACRA) was signed into law on April 26, 2015. MACRA repeals the previously used SGR formula with a new pay-for-performance program to pay physicians. This program is the latest in a series of steps the Centers for Medicare and Medicaid Services (CMS) have taken to incentivize care quality over volume.

MIPS

MIPS is a new payment track under Quality Payment Program where you earn a performance-based adjustment to your Medicare payment. This track consolidates three existing programs (Meaningful Use, Physician Quality Reporting System and Value-Based Modifier) with the addition of a new component called Improvement Activities.

Who is eligible?

You must participate in MIPS if you

• Exceed the low-volume threshold as an individual
• Are enrolled in Medicare before January 1, 2019
• Do not become a QP or Partial QP
• Are part of an APM Entity with Partial QP Status that elects to participate in MIPS

Advantage of Reporting MIPS:

Physicians are being rewarded for providing high quality care, improvement and reporting to the CMS. With MIPS, physicians have the potential to earn a positive payment adjustment.