As you may know, MACRA took effect at the beginning of 2017. This law establishes two payment tracks for physicians: the Advanced Alternative Payment Model (APM) and the Merit-based Incentive Payment System (MIPS).
For smaller and independent medical practices, MIPS may be the more suitable of the two. Starting this year, those practices will be required to report their performance on a variety of metrics. If they fail to do so, they could face financial penalty in the form of lower payments from Medicare. Practices that do report their data have the possibility of earning a financial bonus.
Although MIPS can affect a small practice’s income, polls show that many physicians still know little about it. How much do you know?
Visit Medical Economics to test your MIPS knowledge.