The Medicare Access and the Children’s Health Insurance Program (CHIP) Act of 2015 gives physicians the choice of two reimbursement methods beginning in 2019.
One option is for physicians to be reimbursed under the Merit- Based Incentive Payment System (MIPS), where Medicare payments are adjusted based on performance measures. MIPS will replace the current incentive payment programs, namely the Physician Quality Reporting System, Value-Based Payment Modifier, and EHR Meaningful- Use Incentive Program. Starting in 2019, physicians will have the opportunity to gain (or lose) a percentage of payment. It will begin at 4% and grow to 9% in 2022.
The second option for Part B providers will be to join an alternative payment model, such as accountable care organization or medical homes. If they do this, they will be excused from being scored under MIPS and will receive 5% annual bonus. It is predicted that physicians will prefer the option of joining an alternative payment model because of its certainty and its reliable 5% increase. New models for the alternative payment model may emerge with the creation of the 11-member Physician- Focused Payment Model Technical Advisory Committee.
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