Healthcare is undergoing significant transformations, thereby changing the way physicians practice, according to Diagnostic Imaging.
Here five healthcare transformations.
1. Value-based payments. CMS' Medicare Access & CHIP Reauthorization Act of 2015 replaced the current Meaningful Use, Physician Quality Reporting System and Value-Based Payment Modifier this year. Under MACRA, physicians can participate in the Merit-Based Incentive Payment System or the Alternative Payment Models. MIPS consists of a weighted score of quality, resource use, meaningful use and practice improvement scores. Physicians have the opportunity to receive financial bonuses if they obtain good quality outcomes. However, many may face penalties if they fail to meet CMS' requirements.
2. Medicare changes. Medicare payment policies underwent changes. Medicare's "Two-Midnight Rule" enabled shorter inpatient stays. Now, Medicare will cover advance-care planning for physicians to talk to patients about end-of-life care.
3. Meaningful Use. 2016 requirements mandate physicians:
a. By July 1st, apply for a hardship exception via a new application that does not require as much information. The new application has a more lenient CMS review.
b. Submit attestation data to CMS.
4. Consolidation. The healthcare insurance industry is consolidating, paving the way for mega-mergers. Aetna plans to acquire Humana for $37 million and Anthem and Cigna will merge with Anthem, acquiring Cigna for $54 billion.
5. Patient-driven healthcare. As patients assume more financial responsibility, patient engagement will become increasingly important. Physicians may have to create sustainable treatment plans as patients will have stricter budgets.
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