Congress Agrees on Plan to Change Medicare Payments from Volume to Value - Health Minute for February 10, 2014

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Congress Agrees on Plan to Change Medicare Payments from Volume to Value - Health Minute for February 10, 2014

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Monday, February 10, 2014 - 5:00pm

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CONTENT: Multimedia with summary

 

If you think that ideological, partisan disagreement about the Affordable Care Act is all that’s happening in the health care policy area, Congress just proved you wrong. A group of Republicans and Democrats, representatives and senators, have just agreed to repeal Medicare’s physician payment formula and shift the program to a system based on value versus volume of care. Three congressional committees, one in the Democratic Senate and two in the Republican House have collaborated on a plan that offers incentives for Medicare physicians to move to an alternative, adjustable payment model. Called the Sustainable Growth Repeal and Medicare Provider Payment Modernization Act, the proposed legislation would do away with the fee-for-service model, and deliver payments that would be adjusted on performance under the new Medicare incentive pay system, MIPS. It provides a five percent bonus to providers through a system that includes a quality-measurement component. The current payment structure was established in 1997 to control physician spending, but since 2003, Congress has spent about $150 billion to provide short-term fixes. The agreement’s cost to repeal and replace the old system is $126 billion over the next ten years. A new health care business model that delivers better outcomes at lower prices sounds like a law that all politicians would sign on to.

I’m John Howell for 3BL Media.

 

Video Source: Congress Agrees on Plan to Change Medicare Payments from Volume to Value 

 

Keywords: ACA | Affordable Care Act | congress | health care | health care policy

CAMPAIGN: The CSR Minute

CONTENT: Multimedia with summary

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