Who's ready for APMs?
While there is much talk about value-based payment for healthcare services, also called alternative payment models (APMs), the SIM initiative provides resources to help its cohort practices succeed as these models become more pervasive.
A total of 270 practices in the state are participating in these APMs, according to the “Colorado MACRA Readiness Report” produced by Milliman and funded by SIM. The report lists the different initiatives, including SIM, Comprehensive Primary Care Plus, and the Transforming Clinical Practice Initiative, which is recruiting practices.
“We researched the different APM initiatives that have been in place in Colorado in practice sites recently to help determine how ready the primary care practices in the state are for MACRA implementation, specifically APMs,” explains Steve Melek, FSA, MAAA, principal and consulting actuary, Milliman, who is the lead author. “The total number of unique primary care practice sites with experience with APMs total more than 270, which is estimated to be approximately 40% of all Colorado primary care practices.”
Read the report to gain insights into which Colorado practices are participating in APMs, which should position them for greater success with the Medicare Access and CHIP Reauthorization Act (MACRA), a piece of bipartisan legislation that is separate from the Patient Protection and Affordable Care Act that was finalized in October 2016 with the Quality Payment Program.