Monday 30 August 2021

Things You Need to Know About Quality Payment Programs to Flourish

MIPS incentives, MIPS Quality Measures, MIPS reporting, QPP MIPS 2021, MIPS in healthcare, MIPS 2021 Data Submissions, MIPS consultants, Quality Payment Programs, MIPS score, MIPS Qualified Registries

Quality payment programs have changed the way physicians offer their services. The reimbursements now facilitate clinicians as per fee-for-quality rather than fee-for-service. Therefore, you need to know how you can avoid a 9% penalty in case of poor MIPS 2021 data submission to CMS (Centers for Medicare and Medicaid Services).

MIPS reporting has been a part of the US healthcare system for five years now. Years before, physicians could even pay a little attention to it, and it was enough. But now, one thing is certain; the lesser you focus on quality healthcare, the lesser points you will receive, and even will have to suffer a penalty.

What Can Physicians Do?

We can see a significant increase in Medicare patients. You have to therefore perform to the best of your abilities while implementing technology for the ease of the process. It comes with a lot of stress and anxiety. However, QPP MIPS also brings a disguised opportunity, which can help you improve your financial situation.

What Caused the Change of Reimbursement Models?

Realistically, we could see healthcare expenses have been increasing, but the compromise on quality was out of the question. The healthcare authorities thus advise clinicians to strive for quality rather than volume. These expectations have created an impact on the quality, where Medicare patients are the most crucial beneficiary.

Here are a few things that you should know to successfully complete the QPP MIPS reporting.

MACRA is Not the Replacement of the ACA Act

Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) is NOT the Affordable Care Act. ACA, aka Obamacare, governs the insurers or the individuals who pay. It particularly states that healthcare coverages must meet certain standards. In an otherwise case, companies would have to bear penalties for non-compliance.

Whereas, MIPS & MACRA addresses the healthcare delivery reforms against coverage offered by the government. Sustainability and innovation are the most focused aspects of these programs. Clinicians must perform improvement activities in four major sectors, and based on the submitted data, authority rewards score. Ultimately, the score decides if the clinician is qualified for positive or negative payment adjustment.

Thus, for successful MIPS reporting, medical practices must consider what components can get them more scores in the end.

Know Your Reporting Options

Clinicians must know their reporting options in order to succeed. It is to remember that MIPS only caters to the physician's payments, namely PART B Medicare payments. So, healthcare workers have several options to get their services recognized by the authorities (MIPS, APP, ACO reporting).

Based on the medical specialty or the method of care delivery, one can choose a suitable method of data reporting. Generally, a MIPS Qualified Registry assists with successful and timely data submission as the administrative load and compliance issues are quite hectic.

Moreover, clinicians have the option to report as an individual, group, or virtual group. For group or virtual groups, participants need to assign their billing rights to a single Tax Identification Number.

Don’t Wait for the End Period to Report

Clinicians can successfully target MIPS incentives. However, they need to stop thinking and act now, otherwise, they could risk up reimbursements up to 5%. In a favorable condition, they can easily qualify for even the $500 million bonus. 

Moreover, this flexible program allows many adjustments in unfortunate circumstances.

Many things could go wrong if you are not careful. For instance, you have to report data for Improvement Activities for at least 90 days. Failed to do so, and you will not receive any point.

Conclusion

We must know that CMS rewards points and payment adjustments are based on your performance and not the amount of data submitted. So, you can be a potential winner of the program only if you consider the dynamics of Quality Payment Programs as per the CMS requirements.  MIPS consultants can also be of great help in this regard.

So clinicians! If you want to recognize in the Physicians’ Portal and receive positive payment adjustments or incentives for exceptional performance, ensure a thorough understanding of QPP to benefit your RCM.

Monday 19 July 2021

Maximize Your Quality Performance Score in MIPS 2021

MIPS 2021 Reporting, MIPS Consultants, MIPS Incentives, MIPS Quality Measures, MIPS Qualified Registries, MIPS Professionals

QPP MIPS 2021 is an incentive program that helps you cash on lots of financial opportunities. For instance, MIPS eligible clinicians can avoid penalties of up to 9% as CMS (Centers for Medicare and Medicaid Services) has made it compulsory for every clinician to participate in this program.

Failure to submit data cab lead clinicians to incur the penalty but also lose the opportunity to earn incentives.

A Background to MIPS 2021 Quality Requirements

MIPS is one of its kind programs accessible to MIPS qualified clinicians for gathering and revealing information about their value-based healthcare services. Today, we will talk only about the Quality category that estimates medical care cycles, results, and patient encounters in general.

Quality Caters to 40% of Final Score 

This percentage change almost every year because of Exception Applications or Alternative Payment Model (APM) Entity investment.

Clinicians can consult MIPS consultants to demonstrate the true potential of their performance to CMS. 

Moreover, for general details, you can read this article. 

What Quality Data Should I Submit?

  • There are 6 assortment types for MIPS quality measures
  • Electronic Clinical Quality Measures (eCQMs)
  • MIPS Clinical Quality Measures (CQMs)
  • Qualified Clinical Data Registry (QCDR) Measures
  • Medicare Part B claims measure
  • CMS Web Interface measures

General Detailing Prerequisites for MIPS 2021 Data Submission (for those not revealing through the CMS Web Interface)

You'll ordinarily have to submit gathered information for no less than 6 measures (counting 1 result measure or high-need measure without an applicable outcome measure), or a complete measure set.

You'll have to report data for basically 70% of the patients who fit the bill for each action.

You can submit measures from various collection types (except CMS Web Interface measures) to satisfy the prerequisite to report at At least 6 quality measures.

CMS will compute and score the performance of individuals, groups, and virtual groups on 2 new regulatory case estimate when the individual, groups, or virtual groups meets the case least, and clinician the necessity for the measure

Medical clinic Wide, 30-Day, All-Cause Unplanned Readmission (HWR) The rate for the Merit-Based Incentive Payment Program (MIPS) Eligible Groups (This action is supplanting the All-Cause Hospital Readmission (ACR) measure, Quality ID 458).

Hazard normalized Complication Rate (RSCR) following Elective Primary Total Hip Arthroplasty (THA) as well as Total Knee Arthroplasty (TKA) for Merit-based Incentive Payment System (MIPS).

How Are Measures Scored?

CMS decides to measure MIPS 2021 performance based on measure performance as per the benchmark.

If an action can be dependably scored against a benchmark, it for the most part implies:

  • A benchmark is accessible.
  • Has no less than 20 cases.
  • The data fulfillment standard is for the most part 70%.

CMS Web Interface measures are scored against the Shared Savings Program benchmarks.

Criteria for Bonus Points

  • You can acquire quality extra focuses in the following manner.
  • Submit at least 2 results or high-need quality measures.
  • This reward isn't accessible for the first, the required result, or high-priority quality measure.

This reward isn't accessible for measures needed by the CMS Web Interface, however, is accessible to MIPS eligible groups that report the CAHPS for MIPS overview notwithstanding the CMS Web Interface measures.

The Easy Formula for Maximizing MIPS Quality Performance Score

What you should and shouldn’t do to maximize your MIPS Quality score is mentioned above. But a detailed formula is given below to help strategize accordingly.

Select Only the Best Specialty-Specific MIPS Quality Measures

When you or your MIPS Qualified Registry is in the measure selection phase, make sure you select more than 6 measures to report to the CMS.

Earn Up to 10% of Bonus on the Quality Score with CEHRT Bonus

If MIPS eligible clinicians go for end-to-end MIPS reporting 2021, they are qualified for 10% of the MIPS bonus concerning the CEHRT bonus. It means that you can earn 1 point per submitted measure.

Performance Benchmark Requirement

QPP MIPS quality measures that do not come with a performance benchmark do not grant more points than 3. 

Data Completeness Rule

For MIPS 2021 data submission, eligible clinicians must fulfill the data completeness rule. You are required to submit 70% of the data complied with the eligible cases.

Small medical practices have the flexibility that even if they don’t meet the data completeness rule, they still can receive 3 points for each MIPS Quality measure. However, this option is not valid for large or established medical practices.

Case Minimum Requirement

To maximize performance in the MIPS quality category in 2021, clinicians must meet the case minimum criteria of 20 cases per MIPS quality measure. Only this way, you can receive more than 3 points per measure.

Use the certified version of EHR innovation (CEHRT) to gather measure information and meet the electronic reporting requirements.

Six extra bonus points are added to the quality performance score for clinicians in little practices who submit 1 measure, either exclusively or collectively or in virtual groups. This reward isn't added to clinicians or gatherings who are scored under facility-based scoring.

You can likewise target up to 10 extra rate focuses dependent on your improvement in the quality performance from the previous year. You can also consult MIPS Qualified Registries for streamlined MIPS reporting.

CMS Issued Final Rule on Technology Access for Seniors!

QPP MIPS 2021, QPP MIPS, CMS, MIPS 2021 reporting, medical billing companies, QPP MIPS reporting, MIPS incentives, MIPS consultants

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 QPP MIPS.

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 time for all stakeholders, be it for seniors and innovators. It is helpful for medicalbilling companies in  USA as well as for QPP MIPS reporting. Moreover, FDA will approve the innovative product on an expedited basis.

It also improves the quality of care by opening ways to revolutionary mechanisms. For instance, to conduct gene-based tests in life-threatening situations. We can say that advancements in Improvement Activities (IA) and Promoting Interoperability (PI) for QPP MIPS become easy.

The Impact on the Healthcare Industry 

  • MCIT rule assigns approval from FDA with national Medicare coverage for four years. After the expiration date, CMS will reevaluate the patient outcomes that emerged from the adopted technology among the Medicare beneficiaries.
  • During this time, the innovators can develop or collect more evidence in support of the applicability of the product. Moreover, QPP MIPS eligible physicians can ensure their quality care to target MIPS incentives.  
  • MCIT, when providing coverage, also aligns with the local coverage determination (LCD) process. It promotes easy access for seniors no matter their location.

How CMS Grants Permission?

Currently, healthcare providers have to ask each of the Medicare Administrative Contractors (MACs) for the LCD coverage. However, with the new rule, innovators do not have to seek permission from individual MACs.

The Larger Trend

The rule also specifies the standards that CMS uses to determine if Medicare covers a product or not. Moreover, we can also see the explanation for the requirements to diagnose or treat an illness. All this briefing will be subject to the understanding of CMS requirements from the innovators. Consequently, clinicians can promote the quality of care, adding to their QPP MIPS 2021 Data reporting.

Why You Should Start Planning for QPP MIPS 2021 Reporting Now?

MIPS Reporting, MIPS Score, MIPS Quality Measures, MIPS Qualified Registries, MIPS Data Submissions, MIPS In Healthcare

Planning today for QPP MIPS  is going to benefit your reporting process in the long run. There will be lesser time to stress over the hectic data submission process because you already had figured out every detail.

Moreover, you can pick out the most relevant and useful MIPS reporting strategy for your medical practice, provided you start early.

MIPS Planning Is Not Easy!

As a MIPS eligible clinician, especially, if you already had participated in the previous years, you might think that MIPS reporting is easy.

However, you would also know that reporting requirements change every year, and if we do not comply with them, we are simply risking our financial responsibilities.

Hence, nowadays, devising a plan of action should be your priority, for which MIPS consultants can also help you.

Things to Consider While Strategizing MIPS Reporting Plan

As you go through the MIPS reporting process, you will encounter many issues that you have to surpass through your strategy. Also, if your reporting strategy has a solid base, it will maximize your MIPS score.

Here is an overview of the performance categories upon which clinicians’ scores will be judged.

Quality, Improvement Activities (IA), Promoting Interoperability (PI), and Cost are the four major performance categories. 

Based on the submitted data, MIPS eligible clinicians would receive 9% of positive or negative payment adjustments from Medicare.

  • In MIPS 2021, the performance threshold is 61 points to at least maintain the neutral position. 
  • For exceptional performance, clinicians have to score at least 85 points. 
  • To target these goals, physicians or MIPS Qualified Registries must report data for all categories except for the Cost one.

·         For PI category data submission, you must have the certified Electronic Health Record (EHR).

The following are the brief details regarding each MIPS performance category.

Quality

This most workable and the highest weighted category require a lot of work. If you mean to target exceptional results out of this category, clinicians must report at least 70% of the eligible cases for both Medicare and non-Medicare patients.

Otherwise, you can receive zero points for the data completeness constraint.

However, there is a QPP MIPS 2021 reporting flexibility for small medical practices that even if they send data for less than 20 eligible cases, they can still receive 3 points.

Improvement Activities

The last day you can start performing improvement activities is October 03, 2021. You can check from the list of IA measures to see if you are already performing some activity or not.

Moreover, you have to devise a strategy to ensure accurate documentation of each IA activity. Otherwise, you might lose major points there only because you could not support your efforts in a systematic order. 

Promoting Interoperability

As mentioned above, if you want to report MIPS data for promoting interoperability, you must have a 2015 certified EHR system.

This category also has to perform for at least 90 days, just like the IA category.

Cost

Although CMS (Centers for Medicare and Medicaid Services) does not require data submission for cost; however, a solid strategy must be in place by MIPS consultants to add points into this category.

There is a 5% increase in the cost measurement performance. So, it can add to a fruitful total of the MIPS score.

If You Prepare Today for MIPS Reporting, You Are More Likely to Target Successful Medicare Payment Adjustment

QPP MIPS reporting is a challenge that does not come in handy if you want to maximize your score. Especially, when it comes to making a fruitful strategy for successful MIPS reporting, physicians cannot do it on their own. They need professional assistance for going about the best approach to collect, compile, and report data to CMS.

Therefore, it’s better to find the right MIPS Qualified Registry and start as early as possible to improve MIPS performance.

Tuesday 22 June 2021

Rules to Address QPP MIPS 2021 More Successfully

QPP MIPS 2021 reporting, MIPS score, Qualified Registries, MIPS consulting services, MIPS Quality Measures

QPP MIPS 2021 reporting is an opportunity to streamline revenue cycle management, and if medical practices want to take financial matters up a notch, they must be ready to report it with full force.

A better approach or to ensure success in this regard, most clinicians prefer MIPS consultants. What those experts do is devise a strategy first and then look at ways that maximize the final MIPS score.  

There is no doubt that clinicians do not have enough time to ponder upon the MIPS reporting strategies by themselves. For 2021, it is tougher due to the pandemic that is affecting lives in every way possible. Qualified Registries present a feasible solution in this regard, which we will discuss later in this article.

Start with Making a Concrete MIPS Data Submission Policy

If physicians want to receive incentives and $500 billion worth of the bonus pool, they must have a resourceful team at their end to take care of the administrative load. The reporting rules are simple. The four MIPS performance categories are there, upon which physicians will be judged for their quality care services.

Moreover, MIPS 2021 reporting strategy must take into consideration the percentage of each performance category. Because, if you or the MIPS consulting services on your behalf do not recognize the potential of each category, how would you invest efforts in the right direction?

Apart from making a suitable strategy, another factor that plays a crucial role in the success of data submission is the selection of the right MIPS Quality Measures.

Select the Right Specialty-Specific Measures

Condensing physicians’ performance into one measure seems complex, but if it is specialty-specific, it can drive high-quality outcomes for you. The matter of truth is relevant measures that add more meaning to the MIPS reporting process.

It also allows CMS (Centers for Medicare and Medicaid Services) to comprehend your quality-driven efforts more easily. These are generally defined by a specific data set, and each measure is catered to your expertise more efficiently.

So, if you report MIPS data with the specialty-specific measures, chances are you are more likely to gain more points.

With different or abrupt reporting measures, it is difficult for CMS to measure your performance of any sort. So, to avoid such a case, where there is a chance of minimizing score, the best strategy is to look into measures that relate to your medical expertise.

Professional MIPS consulting services often go for this strategy. They reflect on compiling data that adds to the physicians’ capabilities and help them generate more points in the end.

Consult a MIPS Qualified Registry for Stress-Free Reporting

If you want to succeed in QPP MIPS 2021, you must consult a MIPS consulting firm for a seamless process. It has many benefits, to say the least.

A MIPS eligible physician:

  • Does not have to keep an eye on the industry’s latest updates
  • Can focus more on their primary tasks
  • Can report relevant MIPS quality measures
  • Has the team at their disposal to compile data accurately
  • Has resources that perform all tasks on their behalf

Having said all that, medical practices can leverage the professional team of MIPS consultants without having to worry about MIPS reporting by themselves. These are just a few basic advantages that a medical practice can enjoy. However, on practical grounds, many things can be enhanced in terms of quality reporting with experts.

Conclusion

If you take care of these points for MIPS 2021 reporting and consult a MIPS Qualified Registry, you can streamline the whole data submission process. In the end, it is easier to target MIPS incentives and even bonuses just because you make the right choice.

Wednesday 5 May 2021

Why Choose A MIPS Qualified Registry for 2021 Data Submission?

 

MIPS 2021, MIPS Qualified Registry, QPP MIPS reporting, MIPS consultants, MIPS Incentives
Despite the hectic load from the corona pandemic, we all have made it to the MIPS 2021. This program can compensate for the lost revenue last year and eventually improve our reputation. So, we cannot take it lightly at any cost.

To assist this need, a MIPS Qualified Registry is, therefore, crucial for all medical practices to cater to the administrative load. It not only simplifies your data submission process but also helps do it efficiently. A few advantages that clinicians enjoy from consulting a CMS-approved registry is:

  •          Simplifying the requirement analysis and reporting process
  •          Staying on top of QPP MIPS reporting requirements
  •          Achieving financial goals in a systematic order

Timely MIPS data submission to CMS

Of course, the reporting process is less stressful when you have a team of professionals with you. You can read a few benefits of hiring a MIPS Qualified Registry in this article. So, let’s go through them and reach the final decision that why we need to consult professionals for our practice.

One Platform Suitable for All Requirements

A qualified registry makes MIPS reporting work a lesser hassle for medical practices. There is every reporting option available for all specialties so, you do not have to worry about anything. Quality, Promoting Interoperability (PI), Improvement Activities (IA), and Cost, physicians get solutions for everything.

On the flip side, a streamlined process that professionalMIPS consultants offer allows keeping track of performance easily.

Moreover, it is flexible to have all the data in one place as you can effortlessly set your score goals. Productivity improves, and you have a plan of action to follow through.

Find Specialty-Specific Measures

Surprisingly, MIPS Qualified Registry offers approximately 232 Quality measures to report to CMS. This number is a lot less when you choose to report through another method.

Thus, it is easier to find relevant measures as per your medical specialty with a Qualified Registry with so many options at your disposal. You can even customize your measure set, as you desire for maximum MIPS score.

Instant Assistance Whenever You Want

The MIPS reporting requires compliance with many requirements, and clinicians usually already got their hands full with work. In such a situation, a registry emerges as a knight in shining armor and aids in all ways possible.

Their team is always at your disposal if you face any difficulty understanding the requirements or their implementation. No doubt, their advice on measure selection and other matters benefits medical practice in the long run.

All their goal is to conduct a healthy discussion where a healthcare organization gets on the track of their financial goals efficiently. Plus, a reduced administrative load is a bonus.

Timely & Reliable MIPS reporting Services

CMS only approves those MIPS consulting agencies that have efficient resources and a qualified experienced team. Indeed, it is a smart choice to consult professionals as clinicians find solutions to their problems in one place.

For instance, many medical practices just want to avoid penalties. They do not aim to target MIPS incentives or a bonus pool of $500 million, whereas, some clinicians have totally opposite aspirations.

They don’t hesitate to target high rewards for their exceptional performance.

So, no matter the diverse reporting goals, a MIPS Qualified Registry assists your needs appropriately and on time.

Consistent Support 24/7

Whether you want technical support or a financial estimation for MIPS 2021, it is easier when you have an experienced team at your disposal. Simple math can be hectic sometimes, and here we are talking about a payment incentive program, where there is no room for any error or miscalculation. So, a lot is at the stake, such as payment adjustments and MIPS incentives.

A Qualified Registry generally works on the principle to aid eligible clinicians in their administrative load.

So, no matter if you have a question regarding what specialty-specific measure will be suitable for your practice or accurate documentation, your dedicated MIPS consultant will guide you throughout the journey. Thus, experience and quality work are needed that can help you align your documentation with your objectives. And, it can be found when you have a MIPS Qualified Registry with you.

Analyze Financial Consequences

If you report data through a MIPS Qualified Registry, you can estimate your financial implications long before the data submission deadline. Consequently, one can strategize accordingly to translate their goals into actionable measures.

It is like a blueprint that gives a layout to go through the maze easily. So, you can do all the math to perform well in MIPS 2021.

Access to Resourceful Reporting Tools

What if you get access to a tool that makes it easy to collect, manage, optimize, and transmit data? Usually, MIPS Qualified Registries use such tools for seamless performance measurement.

So, if you have outsourced your work to them, chances are you can receive high outcomes without any fuss.

A few examples of what you can do with technology incorporation in your MIPS data submission process are:

  •          Analyze claims to segment related measures
  •          Check performance thresholds
  •          Estimate MIPS score

Conclusion

A MIPS Qualified Registry opens so many doors of opportunities for a medical practice. There is so much at stake with the MIPS 2021 reporting, and any intentional negligence is no choice. Therefore, we suggest consulting professionals for a seamless and stress-free reporting process.

Wednesday 31 March 2021

Requirement Analysis of QPP MIPS 2021

QPP MIPS 2020 is officially over, and MIPS eligible clinicians such as Anesthesiologist, Cardiologists, Dermatologists, and others, can get started on the MIPS 2021.

There is no hurry in this matter, but it is better to comprehend the program. It will help MIPS Qualified Registries to see what they can offer to their clients. Moreover, clinicians can align their efforts as per the value-based incentive program requirements.

What does the Final Rule MIPS 2021 Says?

The QPP MIPS 2021 holds many levels, and to perform well as per the criteria, we should know about all the aspects.

  • MIPS Score Threshold
  • Performance categories weights
  • Minimum performance thresholds
  • APM scoring requirements
  • Hierarchy of MIPS 2021 scores

In this article, we would briefly go through each aspect to get grip on our MIPS 2021 strategies. Let’s get into it.

MIPS Score 2021

We have observed four significant changes for MIPS 2021 reporting. The performance threshold and category weights are changed. However, for this year, the corona pandemic has played a major role in administrating changes.

Thus, the scoring hierarchy will reflect on the quality. It is also to note that CMS (Centers for Medicare and Medicaid Services) has withdrawn the APM scoring thresholds.

An Insight into Performance Thresholds

Minimum Performance Threshold

In MIPS 2021, the performance threshold is set to be at sixty points. It means that eligible clinicians now have to score at least sixty to avoid penalties. Moreover, if they want to earn MIPS incentives, they must meet at least this performance threshold.

CMS suggested setting points at fifty points at first. However, after analyzing the 2019 MIPS data, they realized that clinicians could manage the performance threshold of sixty points easily.

Exceptional Performance Threshold

The threshold for exceptional performance does not change in 2021. It remained the same in 2020. 

Clinicians must achieve eighty-five points in order to get additional MIPS incentives and qualifications of a $500 million pool.  The more points you have, the more incentives you can get.

MIPS 2021 Category Weights

There are different MIPS reporting weights for different reporting frameworks. However, with MIPS 2021, we have the following percentages for the following changes.

For all eligible individuals, groups, and virtual groups, the performance weighs as follows.

  • Quality category: 40%
  • Promoting Interoperability (PI): 25%
  • Improvement Activities (IA): 15%
  • Cost category: 20%

We observe that the cost category has increased, and The quality category has decreased since last year. Whereas, PI and IA remained the same.

It is expected that in 2022, CMS would balance both categories (Cost and Quality) at 30%.

MIPS 2021 Scoring Hierarchy

The hierarchy will give an idea of what MIPS incentives to expect from eligible clinicians.

Clinicians must have an idea of what to expect in MIPS incentives in 2023.

There are four methods to participate in MIPS 2021 reporting as an individual, group, virtual group, and APM entity.

The following table will give you an idea of what we want to suggest here.


MIPS APM Participation

Participation Status

Participation Method

Eligibility

Participation Level

No

MIPS Participant

Standard

Yes

Individual, Group, Virtual Group

Yes

MIPS APM Participation

Standard

Yes

Individual, Group, Virtual Group*, APM Entity

APP

 MIPS 2021 Payment Adjustments

For the performance of the year 2021, the MIPS payment adjustment is set to be at nine percent, which can be from -9 to +9. 

In a real-time scenario, the adjustments are lesser than the actual 9%. CMS suggests that it can be up to 6.89% for clinicians who manage to receive 100 MIPS points. Here is to remember that these points are not guaranteed but just an estimation. The actual points are based on the submitted data by the MIPS eligible clinician or the MIPS Qualified Registry on their behalf.

The ultimate goal is to achieve budget neutrality.

Requirement Analysis 

For MIPS eligible clinicians to participate and be successful in the program, one must follow the following low-threshold volume criteria. 

Clinician must:

  • Have equal or more than $90K in Part B allowed charges for covered healthcare services
  • Provide healthcare to equal or more than 200 Part B enrolled beneficiaries
  • Provide equal or more than 200 covered professional care services under the Physician Fee Schedule (PFS)
MIPS eligible clinicians must know reporting data is inevitable, and to succeed in this program, one must start early to at least meet the standards.

From recent studies, we know that MIPS scores are above average.  Hence, the higher percentage of qualifying clinicians, the lower percentage of incentives they receive! In simple terms, the incentives are finite, and with more MIPS 2021 eligible clinicians qualifying for the bonus, lesser money will be distributed among all.

Unveiling the Importance of QPP MIPS Qualified Registry Reporting in 2023

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