What is MACRA?
MACRA is the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) it was a bipartisan legislation that was signed into law on April 16, 2015.
The Quality Payment Program was created due to MACRA, which provides the following:
- Repeals the Sustainable Growth Rate formula
- Changes the way that Medicare rewards clinicians for value over volume
- Streamlines multiple quality programs under the new Merit Based Incentive Payments System (MIPS)
- Gives bonus payments for participation in eligible alternative payment models (APMs)
MACRA will require that Social Security Numbers (SSNs) be removed from all Medicare cards by April 2019.
To find out more information about MACRA please visit Centers for Medicare and Medicaid Services (CMS.gov).