Understanding Medicare
If you’re enrolled in Medicare, then there are a lot of different factors that should be taken into account. Policy changes, law changes, and CMS decisions could all impact your health insurance coverage, so it’s important to remain updated on the things that are going on in regards to Medicare.
About MACRA
Medicare Access and CHIP Reauthorization Act (MACRA) was signed on April 16, 2015, and had significant importance for beneficiaries and healthcare providers. Because of MACRA, the Quality Payment Program was put into place. There were a few major changes brought about because of this, showing the significance of enrollees keeping track of laws and regulations implemented surrounding Medicare. MACRA was bipartisan and has had a big impact on different areas of Medicare.
One of the major changes brought about because of this new law was the way that physicians billed. While some may not think this matters for them, it does. Physician billing determines how much Medicare, and in turn beneficiaries, will need to pay for a certain service. Billing directly impacts beneficiaries and is one of the most important aspects of Medicare.
Another change brought about by MACRA was the removal of Social Security Numbers from Medicare cards. This change was required to be fully brought into effect by April 2019. This is an important step for privacy and one that makes many people feel safer about carrying their Medicare cards.
MACRA has encouraged physicians to provide the highest quality of care and complete billing correctly. Because of this, beneficiaries should be glad that MACRA exists. Because it replaced the old payment model, the innovation has created room for improvement within billing.
MACRA also included some money so that physicians can get technical support. Because so much of modern business happens through computers, it’s essential that physicians are able to have the right technical help.
Quality Payment Program
The Quality Payment Program was ushered in with the approval of MACRA. This program encouraged providers to treat a patient once correctly, instead of having them return numerous times for the same issue. This saves Medicare and beneficiaries money, so there are certain incentives put into place to encourage excellent medical care.
MACRA and Beneficiaries
MACRA impacted beneficiaries because it changed billing practices. By encouraging doctors to perform more complete care, beneficiaries were positively impacted. Minimizing the amount of times that you need to visit the doctor is a benefit for Medicare, the beneficiary and physicians.
If you’re interested in learning more about Medicare and the laws that affect it, give me a call. We’re here to provide you with important information and answer any questions that you have! Don’t ever be afraid to reach out to a professional, because we’re here to help and make sure that you have all the information you need when it comes to Medicare. Don’t hesitate to let us know how we can support you. ~ Ryan Nutter