Modernizing Medicine, creator of the Electronic Medical Assistant (EMA), a cloud-based, specialty-specific electronic medical record (EMR) system, on January 29 responded to recent announcements from the Centers for Medicare & Medicaid Services (CMS), the U.S. Department of Health & Human Services (HHS) and leading health insurers, regarding the concerted push away from fee-for-service healthcare models in favor of outcome-based reimbursements.
CMS has announced that 85 percent of Medicare payments in 2016 could be based on quality of care, and that number could grow to 90 percent in 2018. Additionally, a UnitedHealth Group executive was reported to have said that the company plans to increase value- based payments to doctors and hospitals by 20 percent this year, forecasting over $40 billion in payments tied to value or quality of care.
“This major shift in payment models requires the right tools and reporting systems if physicians and provider organizations want to safeguard against penalties from volume-based medicine and benefit from related incentives,” said Modernizing Medicine’s CEO and Co- founder Dan Cane in a statement issued following the recent announcements from CMS and HHS. “Modernizing Medicine is deeply committed to the physicians and healthcare professionals we serve, and we believe that health information technology vendors share a large part of the responsibility to ease the impending transition toward quality reporting and outcomes-based reimbursements.”
Unlike EMRs using templates or macros, EMA was designed with unique structured data technology that handles the Value-based Payment Modifier and enables quality reporting including Physician Quality Reporting System (PQRS) program reporting. Cane believes Modernizing Medicine is in a market leading position in providing a system that addresses this burden for physicians, enabling them to focus on practicing medicine without fear of the upcoming changes.