How to Increase Reimbursements and Avoid PQRS Penalties That Could Significantly Reduce Your Medicare Part B Income
Alternative Payment Models for Labs and Pathologists: How to Increase Reimbursements and
Avoid PQRS Penalties That Could Significantly Reduce Your Medicare Part B Income
Thursday, May 5, 2016 @ 2 p.m. EDT; 1 p.m. CDT; 12 p.m. MDT; 11 a.m. PDT
- Mick Raich, President and CEO, Vachette Pathology
- Joe Beham, CFO, Toledo Orthopaedic Surgeons
There are big changes in the works that will dramatically alter the way your laboratory or pathology group is paid by CMS.
Alternative Payment Models, including ACOs, the Merit-Based Payment System (MIPS), and bundled payment arrangements such as the Comprehensive Joint Replacement (CJR) are indications that the traditional fee-for-service model is being replaced by programs that reward your laboratory for providing better care—and better value—to Medicare patients.
CMS will no longer rely on the old Sustainable Growth Rate (SGR) formula to determine payment amounts. Instead, it has created a system that combines multiple quality-reporting programs into the Merit-Based Incentive Payment System (MIPS).
Incentive payments and penalty adjustments using MIPS won’t start until 2019-2021, so why worry about it now? Because starting next year, MIPS will begin measuring the performance of Medicare Part B providers and will use that data to determine how much your lab will be reimbursed. So it’s not too early to start preparing your laboratory or pathology group to get maximum reimbursements.
Make sure you know exactly what business components MIPS will measure and what you can do to ensure you have the strategies in place to earn Medicare reimbursement bonuses and avoid penalties when you register to attend the latest webinar from Pathology Webinars, “Alternative Payment Models for Labs and Pathologists: How to Increase Reimbursements and Avoid PQRS Penalties That Could Significantly Reduce Your Medicare Part B Income.” Listen as Mick Raich from Vachette Pathology provides details on the financial impact MIPS could have on your laboratory, who is exempt from the program, and when CMS is expected to finalize the rules governing MIPS.
You’ll also hear from Joe Beham of Toledo Orthopaedic Surgeons who will talk about what he’s learned having already dealt with the new Comprehensive Joint Replacement (CJR) program, Medicare’s first bundled payment program based on a specific episode of care. It’s another example of the types of alternative payment models that are expected to radically change the way your laboratory is reimbursed by Medicare and other healthcare systems.
Whether you’re a pathologist, laboratory director, business or billing manager—anyone who needs to get ready for the impact of the new payment models—this is one webinar you won’t want to miss.
Register today to guarantee your place at this essential learning session. And remember that all your co-workers in one location can participate in this webinar with you.
Here is just some of what you’ll learn during this in-depth 90-minute conference:
- How healthcare consolidations are reshaping the way providers are paid.
- The latest on MIPS and the CJR program—and what they mean for your laboratory or pathology group.
- How to report PQRS metrics correctly and avoid Medicare Part B reimbursement penalties.
- How MIPS and CJR could affect your lab’s reimbursement amounts—in both good ways and bad.
- The four components MIPS will measure and what your lab should do to get ready.
- Becoming a margin-driven practice, and how it can help you prepare for new payment methods.
- The impact your margins will have on future negotiations, and how those negotiations could affect your bottom line.
- What to expect from the new payment models, including RVU, episodes of care, and ACO bundled payments.
…and much more!
Mick Raich is the founder of Vachette Pathology and has been its President and CEO for the last 11 years. He is a nationally recognized consultant in the business of pathology and laboratory reimbursement and practice strategy. Mr. Raich spent his entire 32-year career in healthcare. His experience began in direct patient care, bereavement counseling, and hospital management and progressed into pathology billing sales and management, pathology practice sales and marketing, revenue cycle management, and strategic consulting. Mr. Raich has grown Vachette into a nationwide consulting and management firm that specializes in working with independent labs, hospital-based pathology practices, hospital and health systems, and university pathology groups. Vachette provides services to more than 1,600 pathologists and 64 clients nationwide.
Joe Beham is the CFO at Toledo Orthopaedic Surgeons where he has been working with CJR, Medicare’s new joint replacement program, and bundled payments. He spent 23 years with Dana Commercial Credit in various financial capacities and was the CFO of Total Fleet Solutions.