As you are aware, this year Medicare will be implementing the Merit-Based Incentive Program (MIPS). I have confirmed that you are eligible for participation in this program.
You must participate to avoid a negative adjustment to your future Medicare reimbursements. If you do not achieve the threshold score of the MIPS program, you will be assessed a negative 5% adjustment on your Medicare reimbursements in the year 2020. Note that the program is not all about negative adjustments; through participation, you can also earn a 5% increase based on your performance.
You can earn a payment adjustment based upon evidence-based and practice-specific quality data. To show Medicare you provided high quality, efficient care supported by technology by submitting information in the following categories:
- Quality (Old PQRS program)
- Advancing Care Information (Old Meaningful Use program)
- Improvement Activities (New Program)
- Cost (Old Value-Based Modifier program)
Quality reporting, this year, is the key to what you need to do and focus on to comply with MIPS and at least maintaining your Medicare reimbursements. The Quality measurement accounts for 50% of your total MIPS score.
To meet this requirement, you must report a full 12 months of data. So, it is urgent that you begin reporting this month. If you haven’t started, don’t fret, you can always go back and report the necessary data beginning as of January 1st.
Much of this reporting can be done quickly and by your ancillary staff. It does not need to consume more of your time. If you plan to report or are already doing so, please let me know what six (6) quality measures you are reporting by clicking on the link below. I am checking to see that at least one measurement is an Outcome measure type. In addition to providing the measurements, let me know which method you are using to report your quality data (EHR, Paper Claims, or Registry).
If you are already on board and have everything you need for participating in the MIPS program, fantastic!
If you are not up to speed, it is not too late – but, you should get started now. If you have not developed a 2018 plan for reporting MIPS data, email me to request assistance. With a team of Certified Healthcare Business Consultants, I can help you chose your practice measurements and assist you in how best to track and report this information.
Finally, to check if you need to submit date to MIPS, please click on this link: