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Value Based Care model

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Introduction You are an office manager for a large private physician practice. With the recent changes to the fee for service model, to a value-based care model, it is important for the physicians to understand the role of Medicare Access and CHIP Reauthorization Act (MACRA) and Merit -based Incentive Payment System (MIPS). These two initiatives will greatly impact provider revenue potential and ultimately profit for the practice. The managing partners (founding providers) of the practice have asked you to draft a memo to all the providers explaining the key differences between the change from fee-for-service and quality or value-based care model. You will need to discuss why value-based care will need to be the new focus for all providers. You should plan to discuss MACRA and MIPS. Traditionally, fee-for-service focuses on the individual patient versus quality or value-based care focuses on outcomes for community level changes. Directions Carefully Read: Saunders, C. (2018). 4 Steps for Success in a Changing Payment Landscape. HFM (Healthcare Financial Management), 1–7. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&AuthType=shib&db=c9h&AN=131554665&site=eds-live&custid=083-900 Melling, J. (2017). Preparing for Value-Based Payment: Fundamental Change That Encompasses the Revenue Cycle. Hfm (Healthcare Financial Management), 1–5. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&AuthType=shib&db=c9h&AN=122930211&site=eds-live&custid=083-900 Initial Post: Based on their observations, in this scenario, and upon a careful review of the available literature, the student is to consider him or herself an office manager for a large private physician practice. The student is to prepare a formal memo which will go out to all the provider’s in the practice. As a reminder, the student must describe the key differences between the change from fee-for-service and quality or value-based care model. You will need to discuss why value-based care will need to be the new focus for all providers. You should plan to discuss MACRA and MIPS.

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