For many good reasons, the industry (with a nudge from the federal government) has decided to overhaul the traditional “fee-for-service” payment model to shift to value-based care. This approach incentivizes providers to deliver better (as opposed to more) care, in the hope that this will improve healthcare from both a quality and cost standpoint.
The federal 2015 MACRA legislation and CMS’s Quality Payment Program (MIPS and APMs) provide the framework for this transition. Executing it will require considerable effort—and more than a little stress—on all players.
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