Medicare Access and CHIP Reauthorization Act
| What is MACRA? | MACRA is a Quality Payment Program that replaced the Sustainable Growth Rate formula resulting in a more simplified incentive program associated with the Medicare Physicians Fee schedule (MACRA: MIPS & APMs, n.d.). The primary aim of this regulation or policy is to provide several ways for clinicians to earn their value-based payments. The eligible people are those physicians and any other Medicare professional who works under Part B.Don't use plagiarised sources.Get your custom essay just from $11/page |
| The impact of the policy or Regulation on the organization | · It will help merge the quality programs under Merit Payment System and give bonuses to the clinicians through the Alternative Payment Model.
· Better results- MACRA encourages the clinicians to offer the best services to the patients, which results in better results of their services.
· High-value care- it will allow the clinicians to focus more on their job due to the better quality of payment they receive based on the value of their services and not the volume of work they perform.
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| Impact of the policy or regulation you selected on clinical care, patient/provider interactions, and workflow. | · This policy/regulation will improve the services provided to the patients hence resulting in biter and improved results for the patient. · It will minimize the burden on medical professionals hence enabling them to focus more on their jobs, which results in better outcomes (Advanced Payment Models, n.d.). · The regulation will also focus on increasing the value of Medicare offered in institutions, thus improving and promoting good health in the community. · As a result, it will also increase and improve the interaction between the patient and the clinician, which results in customer satisfaction and improved services.
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| Organizational policies and procedures that are/will be in place at your healthcare organization to address the policy or regulation | · The organization will have to change its record-keeping procedures as this regulation requires that all patient record is in electronic format. · The organization will have to improve its facilities to enable better patient assessment, which will result in an evidence-based treatment that has better results. · The organization will have to change its payment systems to accommodate the new regulation. |
References
Advanced Payment Models. (n.d.). Retrieved from https://www.aanp.org/practice/practice-management/quality-improvement/macra-mips
MACRA: MIPS & APMs. (n.d.). Retrieved from https://www.cms.gov/Medicare/Quality-Initiatives-Patient-Assessment-Instruments/Value-Based-Programs/MACRA-MIPS-and-APMs/MACRA-MIPS-and-APMs
McGonigle, D., & Mastrian, K. G. (2017). Nursing informatics and the foundation of knowledge (4th ed.). Burlington, MA: Jones & Bartlett Learning. Chapter 8, “Legislative Aspects of Nursing Informatics: HITECH and HIPAA” (pp. 145–166)
Public Affairs. (2018, October 19). Laws & Regulations. Retrieved from https://www.hhs.gov/regulations/index.html