Product update: New support for value-based reimbursement programs
During the last couple of months, we have been sharing our plans for new features and resources to help you succeed with value-based reimbursement programs. Here’s an update on our progress.
Value-based payment programs in healthcare aren’t new, but what is new is the potential for these programs to significantly impact business and financial results for participating physicians.
According to studies, the United States spends roughly $20 out of every $100 on healthcare. Despite this massive investment in healthcare, we still rank last for quality of care among similar industrialized nations. Now more than ever, public and private payers are committed to the Triple Aim — lowering costs, enhancing the patient experience through increasing quality, and improving patients’ health outcomes — to address this imbalance.
For example, the Centers for Medicare and Medicaid Services (CMS) is currently exceeding its goals related to value-based payments and quality. In 2016, the federal agency achieved its goal of having 30% of Medicare fee-for-service beneficiaries under value-based care programs 11 months ahead of schedule. By the end of 2018, CMS’ goals are to have at least 50% of fee-for-service beneficiaries under value-based care programs and 90% of Medicare payments tied to quality. To help achieve this, CMS estimated that more than 600,000 clinicians will have reimbursement impacted by the Merit-Based Incentive Payment System (MIPS) in 2017.
All of this means your practice needs the right tools and support to not only survive with value-based care, but to also thrive in this new payment framework. Below are just some of the recent ways Practice Fusion has helped make it easier for your practice to participate in value-based care programs.
Simplify MIPS participation with the new MIPS Dashboard
Easily choose your measures and track your performance with the new MIPS Dashboard. All three MIPS performance categories for 2017 are now available for you to view in your EHR.
Your EHR is now NCQA Prevalidated for Patient Centered Medical Home (PCMH)
Practice Fusion’s EHR (Version 3.7) has achieved PCMH Prevalidation from the National Committee for Quality Assurance (NCQA) for NCQA’s PCMH 2014 Program. This will help offer your practice a streamlined pathway for achieving PCMH Recognition.
Your EHR supports both Track 1 and Track 2 of Comprehensive Primary Care Plus (CPC+)
Practice Fusion’s EHR supports both participation tracks of CPC+, so participating providers can take full advantage of the program as CMS opens new regions for enrollment.
2015 Edition ONC Health IT Module Certification
Practice Fusion has received 2015 Edition ONC Health IT Module Certification for our EHR Version 3.7, making it a combination 2014 Edition/2015 Edition-certified Health IT product. We continue to make progress toward meeting all of the Certified EHR Technology requirements that will enable you to participate fully in Stage 3 Meaningful Use, MIPS and Advanced APMs in 2018. This year, you can still participate in a broad range of programs using your Practice Fusion EHR, including MIPS, CPC+, and Medicaid Meaningful Use.
The progress our team has made since my last update is a testament to our promise to help your practice succeed in a value-based environment. We look forward to bringing you more tools and support for these types of programs as they are announced. Watch for more updates in the coming months. As always, please provide us with your feedback and suggestions so we can continue to work together to ensure the success of you and your practice.
Tom Langan, CEO of Practice Fusion
Practice Fusion EHR Version 3.7 is 2014 Edition Complete EHR- and 2015 Edition Health IT Module- compliant and has been certified by an ONC-ACB in accordance with applicable certification criteria adopted by the Secretary of Health and Human Services. This certification does not represent any endorsement by the U.S. Department of Health and Human Services. Read more about Practice Fusion EHR Certifications.