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Financial disincentives for providers who commit information blocking
Photo: Helen King/Getty Images
O Department of Health and Human Services released a final rule on information blocking.
The rule establishes disincentives for health care providers to engage in practices that they know are unreasonable and likely to materially interfere with, prevent, or discourage access to, exchange of, or use of electronic health information (EHI), except as required by law or covered by a regulatory exception.
This final rule exercises the HHS Secretary’s authority under the 21st Century Cures Act.
“This final rule is designed to ensure that we always have access to our own health information and that our health care teams have the benefit of this information to guide their decisions. With this action, HHS is taking a critical step toward a healthcare system where people and their healthcare providers have access to their electronic health information,” said HHS Secretary Xavier Becerra. “When health information can be accessed and exchanged appropriately, care is more coordinated and efficient, allowing the healthcare system to better serve patients. But we must always take the necessary steps to ensure that patients’ privacy and preferences are protected – and that is exactly what happens. rule does.”
WHY DOES IT MATTER
HHS has established the following disincentives for health care providers deemed by the HHS Office of Inspector General to have engaged in information blocking and who have been referred by the EIG to the Centers for Medicare and Medicaid Services:
- Under the Medicare Interoperability Promotion Program, an eligible hospital or critical access hospital who has committed information blocking and is referred to CMS by the OIG will not be a significant user of electronic health records during the calendar year of the EHR reporting period in which the OIG forwards its determination to CMS. If the eligible hospital is not a significant user of the EHR, the eligible hospital will not be able to earn three-quarters of the annual basket increase that it would have been able to earn through successful participation in the program; for CAHs, payment will be reduced to 100% of reasonable costs instead of 101%. This disincentive will come into effect 30 days after the publication of the final rule.
- In the Promoting Merit-Based Incentive Payment System (MIPS) Interoperability performance category, a MIPS-eligible physician (including a group practice) who has engaged in information blocking will not be a significant user of the EHR during the calendar year of the performance period in which OIG submits its determination to CMS. If the MIPS-eligible physician is not a significant EHR user, he or she will receive a score of zero in the MIPS Promoting Interoperability performance category. The MIPS Promoting Interoperability Performance Category score is typically one-fourth of an individual MIPS-eligible physician’s total final score in a MIPS performance period/payment year, unless an exception applies and the eligible physician for MIPS is not required to report measures for the performance category. CMS has modified its policy for this disincentive to clarify that if an eligible individual physician is found to have committed information blocking and is referred to CMS, the disincentive under the MIPS Interoperability Promotion performance category will only apply to the individual, even if the provider reports as part of a group. This disincentive will come into effect 30 days after the publication of the final rule.
- Under the Medicare Shared Savings Program, a health care provider who is a Responsible care The organization, ACO participant, or ACO provider or supplier that committed information blocking may be ineligible to participate in the program for a period of at least one year. As a result, the provider may not receive income that it otherwise could have earned through the Shared Savings Program. CMS also finalized this rule that will consider relevant facts and circumstances (such as the time elapsed since the information blocking conduct, the healthcare provider’s diligence in identifying and correcting the problem, whether the provider was previously subject to a disincentive in another program, etc.) before applying a disincentive under the Shared Savings Program. This disincentive will take effect 30 days after the publication of the final rule; however, any disincentive under the Shared Savings Program would be imposed after January 1, 2025.
Additional disincentives may be established through future regulations.
THE BIGGEST TREND
CMS released a proposed rule on information blocking penalties in October 2023.
This HHS final rule complements the June 2023 OIG final rule that established penalties for actors who block information other than health care providers as identified in the Cures Act (health information Technology certified health IT developers or other entities offering certified health IT, health information exchange, and health information networks).
If the OIG determines that any of these individuals or entities have committed information blocking, they may be subject to a civil monetary penalty of up to $1 million per violation.
ON REGISTRATION
MGMA Senior Vice President of Government Affairs Anders Gilberg said, “While MGMA recognizes the need to establish appropriate disincentives for healthcare providers who commit information blocking, we are disappointed that the administration chose by advancing significant administrative and financial penalties under existing Medicare quality programs Medical groups already face numerous difficulties reporting under MIPS, and by imposing a zero-point penalty in the Promoting Interoperability category, this rule ensures that groups are likely to be in violation. will receive a negative payment adjustment for each Medicare claim for a full payment year that HHS could have chosen to work with providers to implement corrective action plans, but instead finalized unnecessary punitive penalties that will financially harm practices. and will negatively impact Medicare patients. Preventing practices and ACOs from participating in the MSSP goes against the transition to value-based care and harms providers’ capacity. within the ACO structure to be successful.”
Send an email to the writer: SMorse@himss.org
CIO Connect, a HIMSS The professional development program aimed at preparing aspiring health IT leaders is accepting applications until June 2024. To know more.
The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).
The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.
In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.
Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.
Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.
Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.
Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.
Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.
IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.
Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)
Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.
“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”
Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.
An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.
Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.
Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.
Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.
“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.
Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.
But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.
Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.
“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”
Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.
“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”
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Jio Financial share price: Should you buy this Reliance group stock on Monday ahead of Q1 FY2024 results?
Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.
Jio Financial Services News
Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”
“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.
Jio Financial Stock Target Price
Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”
On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”
Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.
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