QPP MIPS Reporting Services

COVID-19 pandemic has changed healthcare industry’s dynamics. The impact might be temporary in some aspects while it can also lead to permanent changes in some situations. Many changes were suggested to cater the overflowing COVID-19 positive cases. CMS even recommended delaying the nonessential medical procedures to curb down the virus exposure. This certainly was a brave decision as it protected the health of physicians, patients, and  medical billing services  workers but drag down their financial situation as well. The prior authorization rule is also under fire for the same reason. Many insurance companies and Medicare payment models are waiving off the prior authorization restriction for diagnostic or surgical procedures for coronavirus. However, there are many others, which require the pre-authorization segment filled in the claims. Even when the physicians obtain prior authorization, the claim might end up being denied. Why Prior Authorization is Necessary? Prior authorization

  Under MACRA (Medicare Access and CHIP Reauthorization Act), clinicians can participate in either two payment models, a Merit-based Incentive Payment System (MIPS), or an Advanced Alternative Payment Model (AAPM), defined as Quality Payment Program (QPP). In  MIPs Reporting , eligible physicians are required to submit yearly data to CMS to receive a total score. There are four performance categories, Quality, Improvement Activities (IA), Promoting Interoperability (PI), and Cost, for which data is recorded and analyzed. Today, we are discussing the Cost category and its reporting. Let’s keep going. Cost Performance Category The cost category weighs 15% of the total MIPS score for the performance year 2020. Reporting Requirements CMS doesn’t expect any data submission for the cost category. They analyze the performance by reviewing claims data. The following factors impact the analysis of this performance. Medicare Spending per Beneficiary (MSPB) Total per Capita Cost Eight episode-bas

  CMS (Centers for Medicare and Medicaid Services) published a final rule to support innovation and technology for Medicare beneficiaries.    This rule comes under Medicare Coverage of Innovative Technology (MCIT). The result is expected high pace in the healthcare innovation and easy access of technology to seniors. Undoubtedly, it will be a step to involve technology for value-based care services and to reduce the administrative load. Indeed, it promotes the agenda of  MIPS Reporting . How Healthcare Industry Uses Technology Today? As of now, technology implementation comes with a lengthy process. When FDA approves a device, it comes with a price of time consumption. So, when a medical practice adopts a technology, the majority of time is spent on getting approval from the authorities. Result? Technology incorporation that can save the administrative load or potentially save a life during the Medicare coverage gets delayed. How does MCIT Rule Help? The new rule helps restrict the lag

  Navigating complex medical billing and coding demands precision and strategic decision-making. Therefore, for medical billing companies in the USA, understanding and tracking KPIs is paramount. The key performance indicators (KPIs) act as navigators showing the right path for your practice.  Medical billing services  become more aligned, uplifting the financial status of practices. In this blog, we unveil the 5 KPIs crucial for the success of medical billing companies in USA. Also, we’ll provide valuable insights to elevate your operations and achieve optimal revenue. KPIs - The Foundation of Success for Medical Billing Companies in USA You know, what is the first step towards unlocking the full potential among medical billing companies in USA? Well, it is not other than understanding the importance of KPIs. KPIs serve as the foundation that offers a comprehensive view of your organization's performance. Meanwhile, it indicates the areas for improvement. Look below the 5 essentia

     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 inv