Want Leverage MIPS 2020 Consulting Services in USA? Start Planning Today

Coronavirus has struck all, but the healthcare industry is under its wrath the most. With double the power, physicians, medical billing outsourcing companies, and MIPS Qualified Registries are working together to undermine the effect.

MIPS 2019 performance year is behind our back, and now it’s time for 2020. Although given circumstances are tough, the planning for MIPS 2020 will get fruitful results in terms of revenue.

Physicians! Bear in mind that with each performance year, requirements change.

• Payment adjustment will be 9% in 2020.

• 45 MIPS points are required to stay penalty-free.

• An exceptional performance bonus will be awarded at 85 points.

The reporting burden is great, but, we can’t afford to stay idle. You are busy dealing with COVID cases and risking your life. We suggest don’t risk your future revenue with the current situation.

Here is a guide to get you through the MIPS 2020 details. MIPS reporting services can take notes and get started.

Check Your Eligibility Status. Review if you’re required to Report Data?

CMS has updated the eligibility tool. Now, physicians or MIPS Qualified Registries can check on their behalf that if they can report data or they will have to opt-in.

Even ineligible clinicians can voluntarily participate in MIPS.

Enter your NPI – National Provider Identification number into the tool to get updates about:

• The eligibility status

• Qualifying Alternative Payment Model (APM, (QP) or a Partial QP participation status

• If the physician is required to opt-in

• The special status designation, For Instance, Small Practice, Ambulatory Surgery Center (ASC)-based, Hospital-based, etc.

If a physician has switched places, checking the latest eligibility status is necessary.

Which Reporting Option to Choose: Individual or Group Participation?

Physicians can report data either individually or in a group. If chosen to report via a group, two or more clinicians can report via the same Tax Identification Number (TIN). All the participants of the group will get the same points in the end. Neurology Billing Services

Group participation, of course, has some advantages. For Instance, Resources and time can be saved as it allows physicians a single MIPS submission on behalf of everybody.

• Group participants only have to report data for a similar set of patients.

• With more physicians on board, there are more chances to accurately submit data.

• However, there is a condition that at least 50% of participants should work upon the same activity for ninety days in order to report for Improvement Activities (IA).

Design Your Reporting Goals

Either you are submitting data via MIPS Qualified Registry or any other MIPS submission method, it's important to set goals beforehand. It gives time to analyze, and reflect the collected data for maximum revenue.

The Merit-based Incentive Payment System (MIPS) is a crucial component of the Quality Payment Program (QPP) established under the Medicare Access and CHIP Reauthorization Act (MACRA). It is designed to streamline the process of evaluating healthcare providers based on the quality of care they deliver. If you’re looking to improve your practice’s performance under MIPS 2020, leveraging consulting services can significantly enhance your strategy. In this article, we’ll explore how to effectively plan and implement MIPS 2020 consulting services.

Understanding MIPS 2020

What is MIPS?

MIPS combines several different Medicare quality programs into a single framework to assess providers based on four key performance categories:

• Quality
• Improvement Activities
• Promoting Interoperability
• Cost

Each category contributes to a provider’s overall MIPS score, affecting their Medicare reimbursement rates.

Importance of MIPS 2020

With increasing pressure on healthcare providers to deliver high-quality care while managing costs, MIPS 2020 serves as a framework for achieving these goals. Failing to meet the MIPS requirements can result in financial penalties, making it essential for providers to plan accordingly.

Why Consider MIPS Consulting Services?

Expertise and Guidance

MIPS consulting services offer specialized knowledge and support, helping practices navigate the complexities of the MIPS framework. Consultants can provide insights on:

• Understanding MIPS requirements
• Identifying performance improvement opportunities
• Developing effective reporting strategies

Customized Strategies

Every healthcare practice is unique, and MIPS consultants can tailor strategies to fit specific needs. They can assist in:

• Choosing the right quality measures
• Implementing improvement activities
• Optimizing performance in the promoting interoperability category

Maximizing Reimbursement

Consultants can help practices maximize their MIPS scores, ensuring they receive the best possible reimbursement rates from Medicare. This includes:

• Identifying areas for improvement
• Tracking performance metrics
• Implementing best practices for reporting

Steps to Start Planning for MIPS 2020 Consulting Services

1. Assess Current Performance

Before engaging with a consultant, assess your current MIPS performance. Review past reports and identify areas where your practice fell short. Understanding your baseline will help consultants create a targeted plan for improvement. General Surgery Billing Services

2. Set Clear Goals

Establish specific goals for your MIPS performance. Consider what you want to achieve, such as improving your Quality score or enhancing your Promoting Interoperability performance. Clear goals will guide your consulting efforts.

3. Research Consulting Services

Look for reputable MIPS consulting services that have a proven track record of helping practices succeed under the MIPS program. Consider factors such as:

• Experience with similar practices
• Client testimonials and case studies
• Services offered

4. Evaluate Service Offerings

Different consulting services offer various levels of support. Evaluate their offerings to find a service that aligns with your practice’s needs, whether it’s full-service consulting or targeted support in specific areas.

5. Create a Timeline

Develop a timeline for implementing consulting services. Include milestones for assessing current performance, engaging with consultants, and tracking progress throughout the year. A well-defined timeline ensures accountability and helps keep your team focused.

6. Collaborate with Your Team

Involve your practice’s staff in the planning process. Effective MIPS implementation requires teamwork and buy-in from all members. Schedule meetings to discuss goals, gather input, and foster a culture of continuous improvement.

7. Monitor Progress

Once you begin working with a consulting service, regularly monitor progress toward your MIPS goals. Set up periodic check-ins to assess performance, adjust strategies, and celebrate successes along the way.

A Little Overview of MIPS Quality Measures

Quality

This category has a total of 45 points.

• Report 6 Quality measures, with at least 1 measure Outcome measure or a High Priority measure

• Reported data should comply with data completeness constraint, otherwise, the physician will receive 0 points. Small medical practices can earn 3 points for this.

• To score high, report each measure for 70% of the eligible patients.

Promoting Interoperability (PI)

This category has a total of 25 points.

• Data should be reported for 90 consecutive days.

• The use of a 2015 certified Electronic Health Record (EHR) is required.

• For extreme and uncontrollable situations, CMS weighs this category to 0 and credits in the quality category.

Improvement Activities (IA)

This category has a total of 15 points.

• Total data for 90 days is required.

• Groups with 16 or more clinicians: Attest to 2 high-weighted IAs or 1 high-weighted and 2 medium-weighted IAs or 4 medium-weighted IA measures

• Individual clinicians and groups with 15 or fewer clinicians: Attest to 1 high-weighted IA or 2 medium-weighted IA measures

Cost

This category has a total of 15 points.

There is no need to submit data for this category. CMS will itself calculate the performance based on the Medicare claim data.

Instructions for Small Medical Practices

• Report 6 Quality measures on 1 eligible patient each with at least 1 measure should be an Outcome or High Priority measure
• Submit 1 High-weighted or 2 Medium-weighted Improvement Activities

QPP MIPS is a MIPS Qualified Registry ready to implement tried and tested strategies to increase physicians' score in MIPS performance. Whether you need assistance in submitting data to CMS or a full-proof plan to stay penalty-free, we got you covered in every need.

Read More: Is Prior Authorization Criterion Doing More Harm Medical Billing Services

Conclusion

Leveraging MIPS 2020 consulting services can significantly enhance your healthcare practice's ability to succeed under the Quality Payment Program. By assessing your current performance, setting clear goals, and collaborating with a reputable consulting firm, you can maximize your MIPS score and improve reimbursement rates. The time to start planning is now—ensure your practice is well-prepared for the challenges and opportunities presented by MIPS 2020.

FAQs

1. What is the Merit-based Incentive Payment System (MIPS)?
   MIPS is a program that evaluates healthcare providers based on quality, improvement activities, promoting interoperability, and cost, affecting their Medicare reimbursement rates.

2. Why is MIPS consulting important?
   Consulting services provide expertise, customized strategies, and guidance to help practices improve their MIPS performance and maximize reimbursement.

3. How do I assess my current MIPS performance?
   Review past performance reports, identify areas of weakness, and gather feedback from your team to understand your baseline performance.

4. What should I look for in a MIPS consulting service?
   Consider their experience, client testimonials, and the specific services they offer to find the best fit for your practice's needs.

5. How often should I monitor my MIPS progress?
   Regularly monitor progress through periodic check-ins, ensuring your practice stays on track to meet its MIPS goals.

Outsource Medical Billing Consulting Services USA: Future Innovations and Trends

   

As the healthcare landscape continues to evolve, so does the realm of medical billing services. In this era of technological advancement, the future of medical billing services promises innovative solutions and embraces emerging trends. As a leading player in this field, QPP MIPS, a prominent MIPS consulting service, is at the forefront of exploring and implementing these changes.

The integration of artificial intelligence (AI) and blockchain technology is a noteworthy trend reshaping medical billing services. QPP MIPS recognizes the potential of AI in automating routine tasks, minimizing errors, and enhancing the overall efficiency of the billing process. Blockchain, with its secure and transparent nature, is also making waves by ensuring the integrity and confidentiality of patient data.

Moreover, the industry is witnessing a shift towards patient-centric billing models. QPP MIPS understands the importance of patient engagement and transparent billing practices. This trend involves providing patients with clearer, more understandable billing statements and options for seamless payment, contributing to increased patient satisfaction.

1. ACO Strategies for Success in 2023

As healthcare organizations navigate the complex landscape of value-based care, Accountable Care Organizations (ACOs) play a pivotal role. In 2023, ACO reporting is a critical aspect of demonstrating performance and ensuring compliance. QPP MIPS, with its expertise in MIPS consulting services in the USA, unveils effective strategies for ACO success.

One key strategy involves leveraging advanced analytics to track and measure key performance indicators (KPIs). QPP MIPS acknowledges the power of data in ACO reporting, enabling healthcare providers to identify areas of improvement and optimize patient outcomes.

Additionally, fostering collaboration among ACO members is paramount. QPP MIPS emphasizes the importance of communication and coordination to enhance care delivery, reduce costs, and achieve shared savings. This collaborative approach aligns with the goals of value-based care and positively impacts ACO reporting outcomes.

2. Navigating General Surgery Billing Challenges

General surgery billing comes with its own set of challenges, ranging from complex coding requirements to ensuring accurate reimbursement. In this article, QPP MIPS sheds light on the intricacies of general surgery billing and offers insights into navigating these challenges successfully Outsource Neurology Billing Services.

QPP MIPS recognizes the importance of staying updated on the latest coding guidelines. Changes in coding can significantly impact reimbursement, making it crucial for healthcare providers to adapt swiftly. The article explores how QPP MIPS assists clients in staying abreast of coding updates and implementing them effectively.

Moreover, the article delves into the documentation requirements specific to general surgery. QPP MIPS emphasizes the significance of thorough and accurate documentation to support the billing process, reduce claim denials, and optimize revenue for general surgery procedures.

3. Oncology Revenue Cycle Management

In the ever-evolving landscape of oncology care, revenue cycle management becomes a critical component for success. QPP MIPS, as a trusted name in Medical Billing and MIPS consulting services in the USA, unveils strategies for maximizing returns in oncology revenue cycle management in 2023.

One key focus is on optimizing the coding process for oncology procedures. The article explores how QPP MIPS assists healthcare providers in navigating the complexities of oncology coding, ensuring accuracy and compliance with evolving coding standards.

Additionally, the article delves into the importance of effective claims management in oncology revenue cycle management. QPP MIPS emphasizes the need for a streamlined and efficient process to minimize claim denials, accelerate reimbursement, and enhance overall financial performance in oncology practices.

4. Adapting to Coding Updates in Healthcare

In the dynamic landscape of healthcare, coding updates are inevitable. Staying ahead of these changes is crucial for healthcare providers to ensure accurate billing and reimbursement. QPP MIPS, a trusted Medical Billing and MIPS consulting service in the USA, guides healthcare professionals on riding the wave of change and adapting to coding updates.

The article explores the impact of coding updates on the healthcare billing landscape. QPP MIPS emphasizes the need for proactive measures to understand, implement, and communicate coding changes effectively within healthcare organizations.

Furthermore, QPP MIPS discusses the role of ongoing education and training in adapting to coding updates. The article highlights how continuous learning and staying informed about coding revisions contribute to enhanced coding accuracy, reduced errors, and improved financial outcomes for healthcare providers General Surgery Billing Services.

5. Oncology Billing Strategies

Oncology billing presents unique challenges, and mastering effective coding strategies is key to success in this specialized field. QPP MIPS, a leading Medical Billing and MIPS consulting service in the USA, takes a deep dive into the intricacies of coding for success in oncology billing.

The article explores the importance of detailed and accurate documentation in oncology coding. QPP MIPS emphasizes the role of comprehensive documentation in supporting the codes submitted, reducing claim denials, and optimizing reimbursement for oncology procedures.

Additionally, the article discusses the significance of staying current with coding guidelines specific to oncology. QPP MIPS highlights its commitment to keeping clients informed about the latest coding updates, ensuring compliance, and facilitating successful billing practices in the dynamic landscape of oncology care.

For personalized guidance and expert assistance in navigating the complexities of medical billing, ACO reporting, and coding updates, trust QPP MIPS. As a premier Outsourced Medical Billing Services and MIPS consulting service in the USA, we are committed to optimizing your revenue cycle management and ensuring compliance with the latest healthcare regulations. Contact us today to unlock the full potential of your healthcare practice and embark on a journey of financial success and operational excellence.

For more details please call: (888) 902-1035

Read more: 5 Best KPIs Medical Billing Companies in USA Should Be Tracking