Dr. Jason Weisstein presented at the AAOE 2017 Annual Conference in Indianapolis. His session was titled “Strategies to Outperform Your Peers in the New Era of Value Based Healthcare and MIPS.” This is part two of his two-part article on the benefits of EHR systems and how to select the right system for your practice. To read part one, click here.
The Future of Private Practice
So how do EHR systems tie into the future of private practices? A trending topic that seems pervasive is the thought that MIPS and value-based care is going to be the demise of private practices, specifically ones that are smaller in scale. While it has become a bit more challenging to practice medicine in a highly government regulated environment, I am here to state that private practices, small and large, will still be able to thrive and here’s why.
First, the final ruling from MACRA has given physicians the ability to report with the ‘pick your pace’ model. The introduction for MIPS is intentionally being done slowly, which is a good thing to give practices a window of time, albeit a fairly short one, to get on track. 2017 is the transitional year giving practices time to identify an EHR system that best fits their needs. The time to do this is now as the cost for non-participation will potentially be significant. By the time a group decides to partake it may be too late to make meaningful progress or catch up with exceptional performers.
Second, the importance of selecting the right vendor that offers an all-in-one suite of solutions and will be there to guide you along the way is crucial. Forming a strong relationship with the right team outside of your own will streamline the process and assist you in collecting the right data to put you on the path towards clinical, operational, and financial success for your orthopaedic practice.
Additionally, the government has earmarked an extra $500 million for exceptional performance for each year in the first five years. You want a vendor that makes it easy for you to attain exceptional performance. This is not a zero-sum game. If you are an exceptional performer you put yourself in the best standing for future payments.
You also want to work with a vendor who is looking to next year when cost will become an increasingly important percentage of your MIPS score.
To help you in the decision-making process, here are 10 questions that you should ask your EHR vendor with their ideal responses to ensure that they are prepared to enable you to excel under value-based care.
10 Questions to Ask Your EHR Vendor about MIPS Readiness & What Their Answers Should Be