What does MACRA stand for?

The correct choice, which refers to the Medicare Access and CHIP Reauthorization Act of 2015, highlights a significant piece of legislation that reformed how Medicare pays for services under the Physician Fee Schedule. MACRA was enacted to replace the Sustainable Growth Rate (SGR) formula, addressing concerns about the escalating costs of Medicare and ensuring that healthcare providers are incentivized to focus on the quality of care rather than the quantity of services provided.

Moreover, MACRA introduced new payment models intended to encourage value-based care, particularly through programs such as the Merit-based Incentive Payment System (MIPS) and Alternative Payment Models (APMs). This legislative change has far-reaching implications for healthcare providers and beneficiaries alike, as it aims to enhance care quality while controlling healthcare costs. Understanding MACRA is essential for anyone involved in Medicare as it directly impacts payment structures and care delivery models in the program.