Which does a provider participate in through Medicare Part B to earn an incentive payment for participating in the innovative payment model?

A provider participates in the Advanced Alternative Payment Models (Advanced APM) through Medicare Part B to earn an incentive payment. Advanced APMs are part of the Medicare Access and CHIP Reauthorization Act (MACRA) designed to promote the use of value-based care. These models aim to provide providers with financial incentives to improve patient outcomes while controlling costs. By participating in an Advanced APM, providers can earn higher reimbursement rates and additional bonuses compared to those who do not participate in such models.

The focus of Advanced APMs is on delivering care that is coordinated, efficient, and focused on patient outcomes rather than on volume. Participation in these models often requires providers to take on some financial risk, which means that they might earn more if they perform well or potentially face reduced payments if they do not meet established benchmarks.

In contrast, other options like QIO (Quality Improvement Organizations) focus on improving healthcare quality but do not offer direct financial incentives in the same manner as Advanced APMs. MIPS (Merit-based Incentive Payment System) is another component of MACRA; while it also allows for performance-based incentives, it is different from an Advanced APM model where providers can earn additional direct payments. TPA (Third Party Administrator) is