Providers remain unaware when it comes to MACRA.
This is an excerpt from an article was originally published on Revenue Cycle Advisor on August 30.
A number of providers feel unfamiliar with the impact of MACRA and whether they are eligible for participation in the program, according to a recent survey by NueMD. The most common answer to every question on the survey was “I’m not sure.”
To understand the effect MACRA will have on reimbursement, NueMD surveyed approximately 1,000 healthcare experts from April through June 2017. More than half of respondents (63%) reporting that they work at small practices of 1–3 providers, which are expected to bear the weight of MACRA. The study examined MACRA in terms of financial, quality, administrative, and cost impact.
The survey revealed that 50% of respondents were not at all familiar with the bill—not that they are unprepared, but just generally lack knowledge on the topic.
Those surveyed who understand MACRA are optimistic with 39% of respondents who identified as very familiar with MACRA stating it will have a positive financial impact. More so, larger practices (16%) were more convinced of the positive impact than smaller practices (7%).
The trend of uncertainty continued when it came to the impact of MACRA on patient care. More than half (62%) of all respondents stating they were unsure of the impact. However, when broken down based on their understanding of MACRA, those very familiar with it believe care will improve (31%), while all others believe it will worsen (28%).
Not surprisingly, more than half (58%) of all respondents were unsure of the administrative reporting impact of MACRA. But when examined by practice size, both large (16%) and small (32%) agreed MACRA will mean more time spent reporting.
More than half of respondents (65%) are unsure of the financial impact MACRA will have on healthcare costs, although 20% forecast a negative impact.
Still in the dark when it comes to MACRA? Join William L. Malm, ND, RN, CRCR, CMAS, and Holly Taylor as they analyze the operational changes necessary to support the transition to value-based reimbursement during out 90-minute webinar MACRA and the Value-Based Transition: Understanding the Impact at 1 p.m. on Tuesday, September 12.
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