Navigating the complexities of Medicare’s Merit-based Incentive Payment System (MIPS) can seem overwhelming, but we’re here to simplify the process and help you optimize your performance. This comprehensive guide will walk you through each step, from understanding the basics to successfully submitting your data, so you can boost your Medicare reimbursements with confidence.
MIPS, introduced under the Medicare Access and CHIP Reauthorization Act (MACRA) in 2015, is a critical program aimed at shifting healthcare from fee-for-service to value-based care. Since 2017, it has consolidated three previous quality and value reporting programs into one streamlined system that scores eligible Medicare Part B clinicians on a 100-point scale.
Here’s how the MIPS process breaks down:
- Register: Start by registering your clinicians and accessing the MIPS portal. Register
- Select: Choose the reporting option that best fits your practice—whether individual or group—while keeping the specific requirements for each in mind. reporting options.
- Determine: Identify the categories in which your practice will participate. If needed, consult with experts to ensure you’re on the right path. Get help
- Collect: Gather the required data from your practice’s medical records. Assistance with data extraction is available if necessary.
- Enter: Input your data into the MIPS portal, tracking your progress with real-time performance projections. Get help
- Submit: Confirm your data and submit it via the portal. Our experts will validate your final submission before it is sent to CMS to ensure accuracy. Get help
MIPS scores your performance across four categories:
Your Composite Performance Score (CPS) determines your payment adjustments, so excelling in each category is key to maximizing your reimbursements. We’re Committed to helping clinicians maximize their final scores.
Not reporting can incur up to 9% penalty. Submission support will help to avoid those penalties and maximize a positive payment adjustment.
Our team is here to guide you through every step of the process, helping you navigate the complexities of MIPS and ensuring your data is accurate and submitted on time. By following these steps and leveraging our expertise, you’ll be well on your way to improving your Medicare payments while contributing to the ongoing shift toward value based.