Many healthcare organizations still don’t understand the intricacies of the Medicare Access and CHIP Reauthorization Act (MACRA), which took effect on Jan. 1. But organizations could incur fines or lose reimbursements if they don’t properly prepare for MACRA’s reporting requirements and payment provisions.

This post offers three steps that will help you prepare for, and benefit from, the new regulations concerning reimbursement for treating Medicare patients.

For the 14th episode of our Monday Morning Healthcare IT Podcast Series, Tom sits down with MACRA expert Shaila Kapur. Tom and Shaila will be discussing what MACRA is, how organizations should prepare for it, some benefits of MACRA, and why third-party assistance can be so beneficial to your organization's MACRA compliance.

Since going into effect on January 1, 2017, MACRA has been a topic of interest in the healthcare field. MACRA, or, the Medicare Access and CHIP Reauthorization Act, is a set of requirements from CMS (Centers for Medicare and Medicaid Services) that is designed to move healthcare for Medicare patients from volume to value through new weights and measures. The goal is to reward providers for giving better care to their patients, but many healthcare facilities are unaware of the new rules – which can lead to organizations being hit with negative payments, and can result in reductions to their medicare reimbursements from CMS.

With MACRA having recently gone into effect, organization’s should be prepared and equipped with an understanding of both what it is, as well as what it will mean for their unique health system. Without this information, healthcare facilities could stand to face several financial penalties.