New payment system could be demise of small physician practices
A new government payment system that will be phased in by 2019 could hasten the demise of small physician practices, health policy expert Robert A. Berenson, M.D., says in an interview with Medical Economics.
The Merit-based Incentive Payment System (MIPS) could put many small practices out of business because it will be an administrative burden and costly to gather the data required, says Berenson, a fellow at the Urban Institute in the District of Columbia.
However, physicians who don’t participate in the MIPS program can lose as much as 9 percent of Medicare revenue automatically if they don’t report physician performance data, he says. MIPS, part of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), will replace the current Physician Quality Reporting System (PQRS). MIPS will adjust Medicare payments for most physicians up or down by as much as 9 percent depending on how they score in four performance categories. The program could be “the death knell of many small practices,” he predicts.
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