THE DARK REPORT
21806 Briarcliff Dr.
Spicewood, Texas 78669
FOR IMMEDIATE RELEASE
Media Contact: Chris Garcia
AUSTIN, Texas (August 22, 2016) Consulting company Deloitte says that most doctors are unaware of a new federal law poised to make major changes in how physicians—including pathologists—are paid for Medicare physician professional services. The first sections of MACRA become effective on January 1, 2017. That leaves just 120 days for pathologists and their practice administrators to learn about the law, develop strategies to comply, and prepare to be paid differently by the Medicare Program.
MACRA stands for Medicare Access and CHIP Reauthorization Act. It is a comprehensive federal law that, among other things, creates a permanent replacement for the SGR formula that formerly set prices for the Medicare physician fee schedule. Within the lab is a section that creates MIPS, the Merit-Based Incentive Program that will pay physicians, including pathologists, either an annual financial incentive or penalty, based on that physician’s compliance with MIPS. The new program starts on January 1 and the annual incentives and penalties will eventually reach 9%.
“Survey after survey indicates that most physicians don’t know about MACRA. Even fewer understand the law which triggers a major change in how Medicare will pay for physician professional services,” stated Robert L. Michel, Editor-In-Chief of The Dark Report. “A huge amount of money is at stake. The College of American Pathologists estimates that the MIPS program will have a $1.5 billion overall impact on the pathology specialty beginning in 2019. To ensure that pathologists and their practice administrators are not caught unprepared for the January 1 implementation of this new payment method, there will be a special webinar on this topic.”
This webinar, entitled “Are You Ready for MACRA? What You Need to Know, What Your Pathology Lab Must Do to Protect Pathologist Income” will take place on Thursday, August 25, 2016, at 1 pm EDT. Three nationally-respected pathologists will bring attendees up to speed on MACRA and MIPS. They will also discuss the steps their respective pathology group practices are taking to be ready for the January 1 implementation date of the new physician payment program to provide a roadmap that pathologists participating in the webinar can use to help their own groups be ready for MIPS implementation. Webinar participants will:
- Learn details of MIPS and what steps pathologists should take to comply
- See real-world examples of how three large pathology groups are preparing to participate in MIPS
- Work with actual pathology group financial models of the expected MIPS positives/negatives to their partner’s incomes
- Hear predictions of how swiftly private payers will incorporate elements of Medicare MIPS into their own contracts with pathologists
- Put together a MACRA checklist of steps they can take now to prepare their practice to thrive within the context of value-based payments
For more information about “Are You Ready for MACRA? What You Need to Know, What Your Pathology Lab Must Do to Protect Pathologist Income” and to view webinar details including presenters biographies and pricing, click here. You may also contact Chris Garcia at 512-264-7103.
About THE DARK REPORT
Established in 1995, THE DARK REPORT is the leading source of exclusive business intelligence for laboratory CEOs, COOs, CFOs, Pathologists and Senior industry executives. It is widely read by leaders in laboratory medicine and diagnostics. The Dark Report produces the famous Executive War College on Laboratory and Pathology Management every spring, which showcases innovations by the nation’s and globe’s leading laboratory organizations. Dark Daily is an Internet-based e-briefing intelligence service, read worldwide by thought leaders in laboratory and pathology management. Other well-known conferences conducted by THE DARK REPORT are Lab Quality Confab (on the use of Lean and Six Sigma methods in labs and hospitals) and Molecular Summit (on the integration of in vivo and in vitro diagnostics). THE DARK REPORT co-produces Frontiers in Laboratory Medicine annually in the United Kingdom; Executive Edge bi-annually in Canada; and The Business of Pathology bi-annually in Australia.