The deadline for submitting a non-binding Notice of Intent (NOI) to apply for the Medicare Shared Savings Program (MSSP) is Friday, May 29, at 8:00 pm EDT.
Completing the NOI is a prerequisite to submitting a full application to participate in the MSSP. No application will be accepted from an organization that does not submit an NOI by the May 29 deadline.
The full application is due by July 31, 2015. The next opportunity to submit an application for participation will be summer 2016.
Submitting an NOI does not obligate an organization to participate in the MSSP or even submit an application for participation.
In the four years since the program’s inception, more than 400 accountable care organizations (ACOs) have been accepted into the MSSP. Approximately one-quarter of all Traditional Medicare beneficiaries now are attributed to an MSSP ACO.
In our experience, these organizations have recognized the following “Top Ten” benefits from MSSP participation:
- Opportunity to earn shared savings payments in addition to regular fee-for-service reimbursement.
- No exposure to downside risk.
- Rally point for clinically integrated network development.
- Training ground for population health management.
- Receipt of Medicare claims data across their attributed population.
- Protection under the fraud and abuse waivers.
- Planning for participation in risk-based alternative payment models.
- Legitimacy with commercial payers.
- Response to local competitive dynamics.
- Satisfaction of physician quality reporting requirements.
Given Medicare’s stated intention to tie 50% of all payments to alternative payment models like ACOs by the end of 2018, now is the time to give serious consideration to ACO formation and MSSP participation.
PYA can assist you in evaluating the MSSP opportunity and/or completing the full application. Please contact the expert listed below at (800) 270-9629.