Replacing the current Medicare reimbursement schedule, Medicare Access and CHIP Reauthorization Act (MARCA) has come up with new programs. These programs are based on the pay-for-performance motto that pinpoints important features like quality, value, and accountability of medical professionals and their services. The underlying focus of this act is to motivate healthcare providers into working better than more. The increase in the quality of medical services can eventually avoid the extra work that comes with haphazardness.
A day as fine as April 16, 2015, found President Obama signing the Medicare Access and CHIP Reauthorization Act (MACRA) after it being discussed at length. This law came into existence with a count of 392 to 37 votes in the House of Representatives, while the Senate saw 92 votes in favor and only 8 against it. The high percentage clearly identifies the support of US healthcare providers for MACRA along with the significance of the bill.
MACRA combines parts of the Physician Quality Reporting System (PQRS0, value-based payment Modifier (VBM), and the Medicare electronic health records (EHR) incentive program into one single program called the Merit-based incentive Payment System or "MIPS".