Survey: 84 percent Medical Practices Show They Are Not Sure What MACRA’s QPP Will Require of Their Practice
The famous leading provider of clinical & business management software for independent medical practices, Kareo, declared today that a latest survey indicated that 84 percent of medical practices are not certain what Quality Payment Program (QPP) of MACRA will require of their practice. In spite of this uncertainty, most of these same physicians hope to participate in it to the best of their capability. With payment adjustments possibly acquiring plus or minus 9% by the time period of 2022, a good news for all. It points out that most practices intend to do what is important to neglect an adjustment and/or attempt to get an incentive.
The leading provider Kareo conducted this survey after the final rule was issued in the month of October, and almost 170 medical practices responded. In accordance to the overall results of survey, most practices hope to participate, but they still are not certain what the requirements and need are or how the program will affect revenue.
In the spring of 2016, the proposed rule was declared, followed by a comment period. Industry groups, providers, and vendors reacted with feedback, few of which were incorporated into the rule. On October 2014, the final rule came out and it claimed that the reporting period would start on the day of January 1, 2017 for those who need to completely participate and attempt to get a positive payment adjustment. That left merely over 2 months for eligible clinicians and vendors to get ready.
Dan Rodrigues, founder and CEO of Kareo said, "At Kareo, we felt that it was significant to understand how prepared our consumers really were to start participating in the Merit-Based Incentive Payment System (MIPS), which is the QPP path most of them will follow. Our survey mentioned that independent practices need to comply but they are struggling with the complications and aggressive timing of the rule."
After that, when inquired if they understood what MACRA requires of their practice, 41 percent said they weren’t certain and 43 percent claimed they disagreed or strongly disagreed. Just 4% said they strongly agreed that they knew what MACRA’s QPP required of them.
When asked about the effect on revenue, similar results were observed. 63% were not sure if MACRA would decrease reimbursement. When the survey inquired about whether MACRA would increase reporting burdens, most were definite that it would. Almost 60 percent said that the reporting requirements would increase and maximize for their practice.
Rodrigues said, "The results of survey mention a trend we have observed at Kareo in recent years. Independent practitioners need to stay independent so they want to participate in programs such as MACRA and ignore possible penalties. But they require assistance to do it. The Pick Your Pace options’ addition in the final rule is an initiative in the right direction."