MIPS Reporting Year 2024
The Merit-Based Incentive Payment System (MIPS) provides financial incentives for providers that meet specific metrics associated with quality, promoting interoperability, improvement activities and cost. MIPS streamlines the previous Physician Quality Reporting System (PQRS), the EHR Incentive Program (Meaningful Use) and the Value-Based Payment Modifier activities into a single program.
We help eligible providers avoid penalties and maximize their potential earnings by optimizing their scores and meeting all their reporting requirements. For 2024, eligible providers can be subjected to a -9% penalty on their 2026 Medicare Part B payments or earn up to 9% in financial incentives.
Our MIPS registry and consulting services are something we have been delivering for years. The Centers for Medicare and Medicaid Services (CMS) has qualified HCIS as a certified registry.
After ten years of successful PQRS, meaningful use, and MIPS reporting; we have the tools, experts, and experience to help you with your MIPS reporting. Still have questions? See our FAQs.
Learn MIPS with HCIS
Healthcare Innovation Solutions is here not only to assist you with your MIPS reporting and submission, but to keep you in-the-know about all things MIPS! Our MIPS informational videos will give you the basic program knowledge and understanding necessary for a successful submission. The following video is the first in our series, covering the fundamentals of what MIPS is, how it began, and who benefits from it.
Who Is Eligible to Report MIPS?
MIPS participation is mandatory for many clinicians that meet three low-volume thresholds. These minimums are (1) having more than 200 Medicare Part B patients, (2) having more than $90,000 in associated medical billing per year, and (3) covering more than 200 Medicare professional services during the performance period.
Participants also need to be one of the following types of clinicians:
- Physicians
- Physician Assistants
- Nurse Practitioners
- Clinical Nurse Specialists
- Certified Registered Nurse Anesthetists
- Clinical Psychologists
- Physical Therapists
- Occupational Therapists
- Speech/Language Pathologists
- Audiologists
- Nutrition Professionals
Learn more about reporting options and eligibility.
Download Our MIPS Guidebook!
Get 20 pages of expert advice on this year’s reporting requirements.
Our Credentials
4,300+
client practices
$6M
incentives earned
$25M
penalties avoided
How Can HCIS Help?
- There is a -9% maximum penalty applied to any eligible provider that does NOT submit or scores lower than expected 75 points
- Providers who use our consulting services score higher than those providers that do not
- HCIS will identify reporting opportunities throughout the 200 available measures while typical EHRs only report on 47 quality measures
- Providers who score > 75 may receive financial incentives up to +9%
Schedule a FREE 15-minute consultation!
If you have questions about MIPS reporting requirements or want to better understand your eligibility or reporting requirements, please make an appointment with our MIPS advisers.
What is the Process?
1.
2.
3.
Determine
Choose the categories you will participate in. Get help from our expert advisers as needed.
4.
Collect
Collect the required data from your practice’s medical records. Get help with data extraction.
5.
Enter
Enter your data onto the HCIS MIPS portal. Track your progress with our continuous performance projection.
6.
Submit
Confirm your data and submit via the portal. Our experts will validate your final submission before it is sent to CMS.
Performance Categories
Quality
The quality cateogory replaces the Physician Quality Reporting System (PQRS) and clinicians report on six quality measures, either as individuals or in a group.
Promoting Interoperability (PI)
Previously called Advancing Care Information, the PI category replaces the Medicare EHR Incentive Program and promotes the use of technology to improve efficiency of care.
Improvement Activities
The Improvement Activities category was designed to promote engagement in clinical activities as well as improvement in the quality of care delivered.
Cost
The cost category replaces the Value-Based Payment Modifier and is designed to gauge the total cost of care during the year or during a hospital stay. The cost of care is calculated by CMS based on Medicare claims. MIPS clinicians are NOT required to submit any data to CMS for this category.
How Can I Participate?
You can register now to submit through our CMS qualified registry or hire our MIPS advisers to help you through the process. For more detail on our services and pricing click here. Please use this form if you have additional questions.