The Medicare Access and CHIP Reauthorization Act of 2015 is meant to spur sweeping change in how healthcare is paid for and administered, yet only one in two practicing physicians is familiar with the legislation, according to a new survey by Deloitte's Center for Health Solutions.
MACRA aims to accelerate healthcare's transition to value-based payment models by offering physicians and clinicians financial incentives to manage increasing percentages of patients under risk bearing or coordinated care contracts.
For the survey, researchers consulted a group of 600 physicians about their perspectives on MACRA's implications and their attitudes toward and preparedness for value-based delivery models.
Here are four survey findings.
1. Nearly 50 percent of non-pediatric physicians surveyed said they had heard of MACRA.
2. Self-employed physicians or physicians affiliated with independently owned medical practices (21 percent) were more likely to be at least somewhat familiar with MACRA than physicians employed by hospitals, health systems or medical groups (9 percent).
3. Eight in 10 physicians said they preferred traditional fee-for-service or salary-based compensation models as opposed to alternative payment options. Many physicians said they believe performance reporting will be an administrative burden, according to Deloitte.
4. Physicians largely agreed that the need to bear increased financial risk under quality-based care models will spur market consolidation. About 58 percent said they would consider affiliating with a larger organization to stay financially viable under value-based care models. Eighty percent of physicians said they expect their peers to join larger organizations or networks due to MACRA.