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Specialty Practices Unprepared for MACRA Requirements, According to Integra Connect Data

Integra Connect
Posted on: 06 Sep 17
Specialty Practices Unprepared for MACRA Requirements, According to Integra Connect Data 56% of Surveyed Providers Recognize Importance of Practice Transformation to Succeed Under New Value-Based Reimbursement Models, Few Making Necessary Investments

PR Newswire

West Palm Beach, Fla., Sept. 6, 2017

West Palm Beach, Fla., Sept. 6, 2017 /PRNewswire/ -- Integra Connect, the leading provider of technologies and services for value-based specialty care, today announced key findings from its recent survey, the respondents of which represent practices with approximately 800 U.S. specialty physicians. The survey found that a growing number of specialty physicians, comprised mainly of oncologists and urologists, recognize that clinical, financial and operational changes are needed to be successful under value-based care reimbursement models stemming from MACRA regulations. However, the majority have not yet invested in organizational, IT, or service improvements to achieve them.  

100 percent of survey respondents indicated they have not yet fully grasped MACRA's impact on their practices, with the most common description of their awareness as, "I am learning but have a way to go" (71 percent). Furthermore, 56 percent said they are aiming to deliver cost savings under MACRA through practice transformation to avoid unnecessary hospital stays and ER use, yet nearly two-thirds are either not prepared at all (24 percent) or are taking a "do-it-yourself" approach (40 percent) limited to their existing resources and tools.

The findings indicate that while specialty practices understand that MACRA presents a substantial clinical and financial opportunity, few are well-positioned to realize optimal benefits, due to unpreparedness and limited investment in capabilities to manage attributed patient populations holistically and deliver both cost and quality improvements. Additional findings include:

  • The top three barriers to MIPS success cited include: having the right people/skills (23 percent), understanding the requirements (20 percent), and cultural shift required to assume accountability for patients (19 percent);
  • Specialty practices have identified new investment areas to overcome these barriers including consulting services (25 percent), new care coordination resources (23 percent), and new EHRs (21 percent);
  • However, 62 percent of respondents either don't know how, or have no plans, to fund these new upfront investments to enable MIPS success;
  • Finally, 51 percent of respondents believe their current EMR is not prepared for value-based care, including APMs such as the Oncology Care Model, MIPS, and other bundled payment programs.

"The data shows that an increasing number of specialty physicians are realizing that the transition to more holistic management of patients in support of MACRA will require fundamental changes. The challenge is that few are taking the necessary actions to ensure success," said Dr. Charles Saunders, CEO of Integra Connect. "To maximize clinical and financial returns under MACRA, these practices will need a combination of comprehensive technology designed for their needs, process improvements and dramatic cultural change with new skillsets such as care management and navigation at the core."

The survey was conducted among attendees of Integra Connect's June meeting in Atlanta. The survey respondents' practices represented approximately 800 physicians, 58 percent of which were from oncology practices and 42 percent were from urology practices.

To learn more about the survey findings, visit https://www.integraconnect.com/q3macrasurvey/.

About Integra Connect
Integra Connect delivers a comprehensive, integrated suite of cloud-based technologies and services that enable specialty groups to optimize clinical and financial performance as reimbursement shifts to value-based models. Connected by the IntegraCloud platform, the company's core applications span population health including care management; advanced analytics; medication therapy management; specialty-specific EHR; practice management; and revenue cycle management. All are designed to help specialty practices transform operationally in adherence with complex regulations, including MACRA program requirements. Integra Connect partners with large groups in the U.S. focused on oncology and urology, as well as with other key healthcare constituents, including emergency medical services firms, hospitalist groups and life sciences companies. For more information, visit www.integraconnect.com.

Media Contact
Chanel Benoit
Aria Marketing for Integra Connect  
cbenoit@ariamarketing.com 
617.332.9999 ext. 209

View original content with multimedia:http://www.prnewswire.com/news-releases/specialty-practices-unprepared-for-macra-requirements-according-to-integra-connect-data-300514608.html

SOURCE Integra Connect

PR Newswire
www.prnewswire.com

Last updated on: 06/09/2017

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