The countdown for MACRA data collection is ON

By Tina Colangelo  bio

The last day to start collecting data is October 2, 2017. That is less than a month away. It is crucial to take action now and schedule a MACRA practice assessment. At the very least, these four questions need to be answered:

1. Which payment track will I participate in in 2017, the Merit-based Incentive Payment System (MIPS) or an Advanced Alternative Payment Model (AAPM)? Noncompliance will result in a negative 4% penalty to all Medicare Part B charges in 2019.

2. Which pick your pace option are you most comfortable with? Your participation options are: Test pace (submit something), Partial Participation (submit data for at least 90 days), Full Participation (submit data from for a full year), or Advanced Alternative Payment Model? All eligible clinicians must choose one option in order to avoid a negative 4% penalty to Medicare Part B charges in 2019. 

3. Do I want to report my performance data as an individual or as a group? Both participation options have pros and cons. 

4. Which submission type is best for my practice? Electronic Health Record Direct (EHR Direct), Qualified Registry, Qualified Clinical Data Registry (QCDR), Claims (individual only), or Web Interface (groups of 25 or more)?

The answers to these four basic questions help to shape a successful MACRA strategy. Next steps in the process include:

• Evaluating your past performance in Physician Quality Reporting System (PQRS), Meaningful Use (MU) and Value-based Modifier (VBM)

• Assessing your practice resources to maximize your performance score

• Developing MACRA systems within your organization to ensure optimal performance under MACRA

These are just some of the necessary steps to take to restructure your business model to meet the needs of the value-based reimbursement world we are all living in. The steps take time. I don’t recommend doing them in haste or, worse, skipping steps in order to save time. The deadline for collecting data will be here before you know it. It is best to take action now because your performance matters!

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