One-Third Of Physician Practices Failed To Report Performance Data In First Year Of Physician Value-Based Payment Modifier Program

About 29.3% of the physician practices that were required to participate in the first year of the Physician Value-Based Payment Modifier (VM) program in 2013 failed to report performance data and received a penalty. For the first year of the VM program, the penalty was a 1% Medicare rate reduction for 2015. In the first VM year, only large and extra large physician practices with a minimum number of Medicare beneficiaries were required to submit performance data, and the first year penalty was only 1%. However, over time the program has expanded to include physician practices of all . . .