123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Health >> View Article

Medicare Reporting Challenges To Affect Independent Practices

By Author: 247medicalbillingservices
Total Articles: 24

Private practices across the US are bracing for another series of changes from the CMS (Centers for Medicare and Medicaid Services). Changes like new legislations, more inpatient codes, compliance demands, cuts to Medicare physician fee payment rates and performance-based incentives and reporting requirements will be impacting the bottom line of many private practices across the country.

Due to complex reporting requirements for the performance-based incentive program, many physicians will not be able to take advantage of MACRA (Medicare Access and CHIP Reauthorisation Act). Also, many physicians practicing in independent practices will get to see their Medicare physician fee payment rates slashed by half this year.

There are two payment structures under MACRA- Advanced Alternative Payment Models (APM) and Merit-based Incentive Payment System (MIPS). As far as the financial impact of MACRA is concerned, smaller practices will feel the maximum pinch. To avoid getting penalised and benefit fully from the Medicare Access and CHIP Reauthorisation Act, providers will have to work issues like care co-ordination and decision-making into the normal practice workflow.

In order to implement the changes brought in by the CMS, practices will be required to do an overhaul of administrative as well as patient care workflow. Considering that private practices are already overburdened by the Medicaid reporting requirements, they will require more staff, money and time to offset the impending Medicare cuts caused by MACRA.

To overcome these challenges, private practices will be required to track and understand all elements of care, including price and outcome. They will have to eliminate tedious manual tasks related to their administrative workflow by hiring experienced staff and streamlining vital business functions. Practices will also be required to take on more patients in order to reduce the financial impact.

To offset Medicare physician fee payment rate cuts, providers will have to report all required measures to be properly scored for MACRA reimbursements. This will become even more critical given the reimbursement cuts expected in 2018. It will require them to make effective use of EHR (Electronic Health Record) system and to ensure transparency in Medicare reporting.

Some private practices have started leveraging third party solutions to produce scalable care models. With ease of documentation and reporting, they are finding it easier to fulfil MACRA’s requirements. It has also enabled them to improve the patient-provider experience and reduce cost of care.

If you have any Questions, Please ask me. Our Expert will reply within few mins.

24/7 Medical Billing Services,
16192 Coastal Hwy, Lewes, DE – 19958, USA
2028 E Ben White Blvd #240-1030, Austin, TX – 78741, USA
+1 888-502-0537

Total Views: 102Word Count: 419See All articles From Author

Health Articles

1. Sore Male Organ Syndrome: Could It Be Behcet’s Disease?
Author: John Dugan

2. Male Organ Bumps: Test Your Knowledge
Author: John Dugan

3. Dentist Mount Vernon To Ensure That You Have Perfectly Healthy Teeth
Author: Richard Hanley

4. A Healthy Mother And A Healthy Child
Author: ponting brown

5. Being A Heroin Addict In Chicago
Author: Kari Harris

6. Effective Tips For Searching List Of Doctors In Bhopal
Author: K.P Shrivastava

7. Where To Buy, How To Use Aabab Tablets, Reviews, Price, Side Effects?
Author: Baron Tahbert

8. Where Can I Buy Aabab Tablets To Tighten My Vagina Fast?
Author: Baron Tahbert

9. What Are The Best Natural Ways To Tighten Vaginal Walls Without Surgery?
Author: Baron Tahbert

10. Menorrhagia Symptoms, Causes And Natural Treatment
Author: Baron Tahbert

11. Safe Herbal Treatment For Irregular Bleeding And Menstrual Cramps
Author: Baron Tahbert

12. Diet, Exercise And Natural Remedies To Boost Female Libido Quickly
Author: Baron Tahbert

13. How Eating Organic Food Affects Pesticide Levels In Your Body
Author: Aaron Kellner

14. Resume Tips For Doctors
Author: eMedEvents

15. Know The Working Principle Of Clear Correct Aligners!
Author: Leon Anaf

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: