The Medicare Access and CHIP Reauthorization Act (MACRA) is a high stakes regulation, especially for providers serving large Medicare populations. Their ability to collect, analyze and submit key MACRA measures will have a direct, substantial impact on their Medicare revenue stream and profits. How much of an impact?
Take two providers with annual revenues of $30 million, with $10 million from Medicare. One is among the top 10% performers and earns maximum points: It will receive $2.25 million in bonuses. The other lands in the bottom 10% of performers and earns fewer than 20 points: it will lose $625,000.
Crunching real numbers to see how MACRA could benefit the bottom line can help create impetus for MACRA initiatives. By applying strategic and out-of-the-box thinking, providers can turn MACRA into a mechanism for gaining competitive advantage in a value-based care industry. Here are the key areas to target to achieve maximum benefit under MACRA: