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The money mechanics of CJR-X, in one sitting.

Three mechanisms in the final rule decide what your hospital is paid on every joint replacement episode: the quality gate, risk adjustment, and gainsharing. Here is how each works, sourced to the regulation, ending with the letter that starts the conversation with your administrator.

Mechanism one · §512.635 and §512.640

The quality gate: your score moves the discount.

Every episode's target price carries a discount — CMS's cut off the top. The discount starts at 2.0% and falls with quality performance. That makes quality the only lever in the model that raises your target price.

Five measures, three domains

MeasureSideWeight
THA/TKA complication rate (RSCR)Inpatient50%
Hospital visits within 7 days of HOPD surgery (OP-36)Outpatient50%
HCAHPS patient experienceInpatient40%
OAS CAHPS patient experienceOutpatient40%
THA/TKA patient-reported outcomes (PRO-PM)Both10%

Each measure is scored against national percentiles, the two sides are combined by your episode volume, and the result is a composite quality score out of 20. Below the 30th percentile, a measure earns zero.

CQS ≤ 6.0
No reconciliation upside
2.0%
CQS 6.1 – 12.0
Full discount
1.0%
CQS 12.1 – 17.0
One point bought back
0%
CQS ≥ 17.1
No discount at all

On 300 episodes at a ~$26,000 target, each point of discount is roughly $78,000 a year. The PRO measure is scored on performance from year one — every request to phase it in was denied — so collection habits built now are the ones you will be paid on.

Mechanism two · §512.640 and §512.645

Risk adjustment: documentation sets the target.

Your target price is not one regional number. It is adjusted patient by patient, and the adjustment reads the record. A comorbidity that is not documented within the 180-day lookback does not exist for pricing purposes — which means the note is now a financial instrument.

The 21 condition flags CMS prices on

Each is an HCC category with its own payment multiplier, found in claims from the 180 days before the episode:

CMS-HCC (V28) categories, names verbatim from §512.645(a)(6). Click any flag to see the ICD-10-CM codes that map to it.

Example codes shown; the full mapping is in the downloadable reference below. Mappings from the CMS-HCC V28 model ICD-10 crosswalk — confirm against your coder and the current CMS file before building order sets.

Plus everything else in the model

Five prior-procedure flagsPrior ankle, partial hip, partial knee, THA or resurfacing, and TKA — each adjusts the target.
Age and HCC countAge bands and the number of condition categories, not just which ones.
Economic riskA beneficiary economic risk factor built on community deprivation — the model prices social risk.
Post-acute use, disability status, hospital traitsPrior PAC use and dual/disability status on the patient side; bed size and safety-net status on yours.

The practical move: put the 21 flags into your H&P workflow now. If a condition is real, documented, and coded within the lookback, the target price reflects the patient you're treating. If it isn't, you are being measured against a healthier patient than the one in front of you.

Put it in the chart: the H&P smartphrase

Paste this into your EHR as a dot-phrase (for example .CJRXHCC) and work it into the pre-op H&P. Delete lines that do not apply; a condition goes in the note only when it is real and addressed.

CJR-X comorbidity smartphrase

CJR-X RISK-ADJUSTMENT COMORBIDITY REVIEW (21 CMS-HCC flags, 42 CFR 512.645) These conditions adjust the CJR-X target price when present in claims during the 180-day lookback. Document and code only conditions that are clinically present and addressed at this encounter (monitored, evaluated, assessed, or treated). Codes shown are common examples, not the full mapping. CARDIOPULMONARY [ ] Heart failure, chronic (HCC 226): I50.22 chronic systolic / I50.32 chronic diastolic / I11.0 hypertensive heart disease with HF [ ] Heart failure, acute or acute-on-chronic (HCC 225 / 224): I50.21 / I50.23 / I50.31 / I50.33 [ ] Specified arrhythmias (HCC 238): I48.0 paroxysmal AF / I48.91 AF unspecified / I48.19 persistent AF / I49.5 sick sinus syndrome [ ] COPD or chronic lung disease (HCC 280): J44.9 COPD / J44.1 COPD with exacerbation / J84.10 pulmonary fibrosis [ ] DVT or PE, including chronic (HCC 267): I82.401 / I82.402 acute DVT lower extremity / I26.99 acute PE / I27.82 chronic PE METABOLIC AND RENAL [ ] Diabetes with chronic complications (HCC 37): E11.22 with diabetic CKD / E11.40 with neuropathy / E11.51 with PAD / E11.319 with retinopathy [ ] Diabetes with severe acute complications (HCC 36): E11.00 hyperosmolarity / E11.10 ketoacidosis [ ] Morbid obesity (HCC 48): E66.01 / E66.2 with alveolar hypoventilation / E66.813 class 3 / Z68.41-Z68.45 BMI 40 or greater [ ] CKD stage 4 (HCC 327): N18.4 [ ] CKD stage 5 or ESRD (HCC 326): N18.5 / N18.6 NEUROLOGIC AND BEHAVIORAL [ ] Dementia by severity (HCC 125 / 126 / 127): F03.C0 severe / F03.B0 moderate / F03.A0 mild / F03.90 unspecified / G30.9 Alzheimer's [ ] Major depression, moderate or severe (HCC 155): F32.1 / F32.2 / F33.1 / F33.2 [ ] Schizophrenia or schizoaffective disorder (HCC 151): F20.9 / F25.0 / F25.1 [ ] Parkinsonism (HCC 199): G20.A1 / G20.C / G21.4 vascular [ ] Hemiplegia or hemiparesis (HCC 253): G81.91 / G81.92 / I69.351 / I69.354 post-stroke ONCOLOGY AND OTHER [ ] Metastatic cancer or AML (HCC 17): C78.00 lung / C78.7 liver / C79.31 brain / C92.00 AML [ ] Chronic non-pressure skin ulcer (HCC 383): E11.621 diabetic foot ulcer / L97.- non-pressure chronic ulcer / I83.0- varicose with ulcer [ ] Prior hip fracture or dislocation (HCC 402): S72.- femur fracture / S73.- hip dislocation / M84.45- pathological fracture / M80.05- osteoporotic fracture Also priced by the model: five prior-procedure flags, HCC condition count, age band, dual and disability status, prior post-acute care use, and a community-deprivation economic risk factor.
Compliance note: risk adjustment rewards accurate, specific documentation of real disease. It never rewards coding a condition that was not evaluated. When in doubt, describe the condition in the note and let your coder map it.
Mechanism three · §512.670–512.685

Gainsharing: permitted, uncapped, and unclaimed until you ask.

The hospital is the participant. CMS pays or collects from the hospital, not from you. The only way surgeon effort becomes surgeon payment is a sharing arrangement — and the final rule makes that easier than most surgeons assume.

What the rule saysWhy it matters
Gainsharing is voluntary, hospital by hospitalNothing happens unless someone starts the conversation. CMS declined to mandate surgeon sharing.
No cap on gainsharing payments to physiciansThe 50% cap many surgeons remember from CJR is gone. The ceiling is what you negotiate, at fair market value.
Alignment payments capped at 50% / 25%The caps that remain apply to a different payment type, not to sharing reconciliation gains with physicians.
No Stark/AKS waivers — the AKS safe harbor at 42 CFR 1001.952(ii) and Stark value-based exceptions applyArrangements must be papered properly from day one. This is a compliance-counsel conversation, not a handshake.
Beneficiary technology incentives up to $1,000 per episodeThe hospital can fund patient-facing tech — monitoring, engagement — inside the episode.

The savings CMS reconciles come from decisions surgeons control: patient optimization, implant choice, site of care, discharge disposition. The rule lets the hospital share those gains with you and declines to force it. Which means the surgeons who are paid under CJR-X will be the ones who asked.

The playbook

Start the conversation.

Five moves, in order, and the letter that opens the door. The goal of the first meeting is not a signed agreement. It is a shared number and a second meeting.

Know your hospital's position first. Participation status, episode volume, and fracture share. Walk in knowing their exposure better than they do.
Bring the levers you control. Optimization, site of care, discharge disposition, PRO capture. Frame them as the hospital's savings, delivered by your decisions.
Ask for the data feed. The hospital receives monthly episode-level claims from CMS. A gainsharing conversation without shared data is a theology debate.
Propose the structure, not the number. A quality-gated share of net payment reconciliation amounts, papered under the AKS safe harbor at fair market value. Let counsel set the percentage.
Put a date on it. Target prices post each November. An arrangement signed before performance year one covers the whole year.

The letter — copy, personalize, send

Subject: CJR-X — proposing we plan the episode together Dear [Administrator name], As of January 1, 2028, [Hospital] will carry two-sided financial risk on every lower-extremity joint replacement episode under CMS's CJR-X model — a 90-day window that spans from admission through post-acute care. I'd like to propose that we plan for it together, and I'll be direct about why the surgeons should be at that table. Most of the spending CMS will reconcile sits downstream of decisions my partners and I make: which patients are optimized before surgery and how, where the procedure is done, and where the patient goes after discharge. Those are the levers that move episode cost, and they are clinical decisions. The final rule anticipates this. It permits gainsharing arrangements between hospitals and physicians, removed the cap on physician gainsharing that existed under CJR, and identifies the regulatory pathway for structuring them compliantly (42 CFR 512.670; the anti-kickback safe harbor at 42 CFR 1001.952(ii)). CMS declined to mandate sharing — it left the structure to us. I'd like to suggest a first working session with three items: 1. A shared review of our episode baseline — volume, spend by category, and post-acute utilization — from the CMS data feed the hospital will receive. 2. The three or four clinical levers we believe move that spend, and what a care-redesign effort around them looks like. 3. Whether a quality-gated gainsharing arrangement, reviewed by counsel and set at fair market value, is the right frame for aligning the work. The hospitals that do well under CJR-X will be the ones where surgeons are invested in the episode, not just the operation. I'd like [Hospital] to be one of them, and I'm ready to put in the work. Could we find 45 minutes in the next few weeks? Respectfully, [Name], MD [Practice / Department]

Personalize the brackets, attach your hospital's exposure snapshot from the opportunity map, and copy your practice administrator. This letter is a template for starting a conversation, not legal advice; any arrangement needs compliance counsel.

Sources. Quality measures, scales and composite: 42 CFR §512.635 as finalized in CMS-1849-F, FY2027 IPPS Final Rule, 91 FR (Aug 4, 2026). Discount ladder and eligibility floor: §512.640(b)(8), §512.645(h). Risk adjustment factors, condition flags, prior-procedure flags, lookback: §512.645(a). Sharing, distribution and downstream arrangements: §§512.670–512.680; beneficiary incentives: §512.685; AKS safe harbor determination: §512.690. Dollar figures in illustrations are program estimates, not rule text. This page is education, reviewed for the AAHKS CJR-X Readiness Program, and is not billing, legal or compliance advice.