Impact of Not Reporting
MACRA[i] is a zero-sum program. Some physicians earn significant bonuses. Others pay for those bonuses through penalties.
If you haven’t yet figured out your MACRA strategy, then the hard reality is that you are on the losing side of this equation. You will be paying for someone else’s bonus.
There’s another thing to consider before you continue to sit this one out – all eligible clinician scores will be made public via the Physician Compare website. Current and prospective patients will see your scores across specific categories such as quality and cost. Your score will travel with you as you switch practices or change jobs. Current and prospective employers and business partners will see it, too. There’s more at stake than money alone.
While Oct. 2 marked the beginning of the final 90-day period to earn an upward adjustment, it’s not too late to avoid the penalty for failing to report.
To avoid the 4-percent MACRA penalty:
Simply report one quality measure via the claims path (CMS 1500 form). Choose one patient and one quality measure that applies to the patient and the scope of your practice.
Reporting on a single improvement activity (of high or medium weight) will also avoid the penalty.
Let’s make the time right now. You missed the chance to earn an upward adjustment and high-performance bonus. Don’t also get slapped with a stiff penalty and damage your reputation with publically reported quality and cost scores of zero.
It’s easier than you think.
Many providers already have the information they need to satisfy MACRA requirements because MACRA builds upon familiar programs (PQRS, MU3, VBM[ii]).
Download our eBook for MACRA reporting shortcuts to help you avoid the penalty.