By Nancy Babbitt, V2V Founder
Let’s face it, MACRA is just the latest in regulation “Hell.”
How do you focus on the business of care delivery and be ready for the next round of quality payment programs. In short, how do you think beyond MACRA? Successfully answering this question will help you break the code and remain profitable throughout this transformation in healthcare.
Here are two ways to go beyond MACRA:
- Become ADEPT™ at MACRA communication:
If you are a practice that is participating with MACRA and reporting quality measures, this is an essential skill. If you haven’t been successful yet, I’ve often found among my clients that you just might not be documenting or reporting in their approved format. The opportunity before you is to gain an ADEPT™ advantage, becoming skilled at the secrets of anything, as we call it. One way is to optimize the technology in your practice, and that means more than just your EHR. It has the effect of improving workflow and ensuring your quality data and outcomes at your fingertips. This way, no matter how you need to format your quality measure reports, you are prepared.
- Know your payer mix:
MACRA is only for Medicare, so you have to determine whether it’s worth your time and effort in the first place. If Medicare is only 5% of your practice, your time might be better spent figuring out how to optimize opportunities for quality payment programs with other insurance carriers. However, if you’ve already started down the MACRA road you can still use the data collection to discover value opportunities across the care delivery continuum. It’s important to say all is not lost when you evaluate your quality programs with other payers and discover MACRA might not be for you.
Either way, the fundamental point of going beyond MACRA is to establish your framework that catalogues and reports your quality outcomes and measures the ROI (return on the investment) of your time. That way, you get to the table to negotiate payer contracts, your quality data and care delivery costs accurately reflect the true cost of care. Once you master that formula, it’s like discovering a Rosetta Stone for success in your practice. The business of health care is undergoing a transformation; your opportunity is to go beyond today’s hot topic and establish a cost-effective framework for quality, engagement, and, ultimately profitability.