AUSTIN, Texas--(BUSINESS WIRE)--Consulting company Deloitte says that most doctors are unaware of a new federal law poised to make major changes in how physicians—including pathologists—are paid for Medicare physician professional services. The first sections of MACRA become effective on January 1, 2017, leaving just 120 days for pathologists and their practice administrators to learn about the law, develop strategies to comply, and prepare to be paid differently by the Medicare Program.
MACRA stands for Medicare Access and CHIP Reauthorization Act. It is a comprehensive federal law that, among other things, creates a permanent replacement for the SGR formula that formerly set prices for the Medicare physician fee schedule. Within the lab is a section that creates MIPS, the Merit-Based Incentive Program that will assign physicians, including pathologists, either an annual financial incentive or penalty, based on compliance with MIPS. MACRA begins January 1, 2017, with annual incentives or penalties eventually reaching 9%.
“Survey after survey indicates that most physicians don’t know about MACRA. Even fewer understand the law which triggers a major change in how Medicare will pay for physician professional services,” stated Robert L. Michel, Editor-In-Chief of The Dark Report. “A huge amount of money is at stake. The College of American Pathologists estimates that the MIPS program will have a $1.5 billion overall impact on the pathology specialty beginning in 2019. To ensure that pathologists and their practice administrators are not caught unprepared for the January 1 implementation of this new payment method, there will be a special webinar on this topic.”
This webinar, “Are You Ready for MACRA? What You Need to Know, What Your Pathology Lab Must Do to Protect Pathologist Income” will take place Thursday, August 25, 2016, at 1 pm EDT. Three nationally-respected pathologists will bring attendees up to speed on MACRA and MIPS. They will also discuss steps their respective pathology group practices are taking to be ready for the January 1 implementation date of the new physician payment program, to provide a roadmap that pathologists participating in the webinar can use to help their own groups be ready for MIPS implementation. Webinar participants will:
- Learn details of MIPS and what steps pathologists should take to comply
- See real-world examples of how three large pathology groups are preparing to participate in MIPS
- Work with actual pathology group financial models of the expected MIPS positives/negatives to their partners’ incomes
- Hear predictions of how swiftly private payers will incorporate elements of Medicare MIPS into their own contracts with pathologists
- Put together a MACRA checklist of steps they can take now to prepare their practice to thrive within the context of value-based payments
For more information about ““Are You Ready for MACRA? What You Need to Know, What Your Pathology Lab Must Do to Protect Pathologist Income ” and to view presenter biographies and pricing, click here. You may also contact Ron Martin at 512-264-7103.