What is the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA)?
In a nutshell, MACRA transforms the U.S. healthcare by revoking and replacing the sustainable growth rate (SGR), through which medical payment updates were calculated.
MACRA creates a new reward system for clinicians and physicians by giving a preference to quality over quantity. It establishes two frameworks of payment:
- Merit-based Incentive Payment System (MIPS)
- Advanced Alternative Payment Models, (APMs)