A Re-Introduction to MIPS Value Pathways (MVPs) for 2024 

Since the 2023 Performance Year (PY23), Centers for Medicare and Medicaid Services (CMS) have implemented a new reporting option for the Merit-Based Incentive Payment System (MIPS) called MIPS Value Pathways (MVPs). Currently, MVPs are optional for eligible clinicians to report, but will become mandatory in years to come. 

What are MIPS Value Pathways? 

MVPs are a reporting option that offers clinicians a subset of measures and activities relevant to a specialty or specific medical condition. Clinicians can select, collect, and report on a reduced number of quality measures and improvement activities as compared to traditional MIPS. However, you are still required to report on the complete Promoting Interoperability (PI) measure set. CMS will collect and calculate data in the Cost Performance category and Population Health Measures.  

There are 16 MVPs currently finalized for the 2024 Performance Year (PY24) shown in the following graphic: 

Why Report with MVPs Now?

Since MVPs are still an optional way to report MIPS, many will still decide to report using Traditional MIPS. However, CMS provides a few reasons why you should begin your transition to MVPs in PY23:

  1. More targeted and connected measures. With each MVP corresponding to a given specialty or medical condition, clinicians can be more targeted with the measures they choose to report.
  2. Reduced list of measures and improvement activities. Similar to the more targeted measures, each MVP has a reduced number of measures and activities, making the measure selection process easier.
  3. Enhanced Performance Feedback. A more targeted and clinician-centric approach means a more streamlined system for performance feedback. You’ll be able to compare your performance to others within the same MVP.
  4. Getting familiar with the MVP structure. As said above, MVPs will become the mandatory reporting option for MIPS, so there are benefits to utilizing them now. In fact, you can report an MVP alongside traditional MIPS for PY24.

Participation Options

Participation options refer to the levels at which data can be collected and submitted to CMS. This graphic shows which participation options are available for PY24:

The Subgroup option is only available for clinicians reporting MVPs. Subgroup reporting is optional for PY24. Reporting through a subgroup may be an option for clinicians in a practice with multiple specialties to get better insight into clinical areas and performance for clinicians within a practice.

We’ll discuss more about 2024 MIPS and MVPs in future blog posts, including adjustments to performance categories, details of specific MVP measures and activities, and more!

It’s important that all MIPS eligible clinicians report and submit data for the 2024 Performance Year. If you have any questions, you can schedule a FREE 15-minute consultation with one of our MIPS experts today.