Alternative payment models that place some financial risk on providers in return for greater rewards for meeting quality and cost standards. Advanced APMs are one of two value-based payment programs created under the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). To qualify as an advanced APM, a model must: require use of certified electronic health record (EHR) technology; provide payment based on quality measures comparable to those used in the Merit Based Incentive Payments System (MIPS) quality category; and bear financial risk for more than a nominal amount of monetary loss, or be a patient-centered medical home that meets certain criteria.
