Are you a solo practitioner or small practice struggling to understand MIPS requirements? When it comes to MIPS reporting, small practices face unique challenges that can make compliance seem like a daunting task. Choosing not to report could be a costly mistake, though, since the penalty for not reporting in 2018 has increased to 5% of your Medicare Part B reimbursements. Fortunately, CMS has taken several steps to provide relief to small practices so they can successfully participate in MIPS for the 2018 performance year.
Are you wondering how you performed in the 2017 MIPS program? The wait is finally over. MIPS eligible clinicians and groups can now view their performance feedback for their 2017 MIPS submission on the CMS Quality Payment Program (QPP) website. The performance feedback will include the clinician's or group’s final score and payment adjustment information. Any upward, downward or neutral payment adjustment will apply to the provider's or group’s 2019 Medicare Part B payments for covered professional services.
Year 2 of the MIPS program, which runs from January 1, 2018, to December 31, 2018, will directly impact your Medicare Part B reimbursements in 2020. Understanding how CMS determines your final MIPS score will ensure your practice avoids any Medicare cuts, while giving you the opportunity to maximize your practice revenue.
CMS announced it exceeded its year one participation goal for the Quality Payment Program. According to CMS Administrator Seema Verma, 91% of eligible clinicians participated in the Merit-based Incentive Payment System (MIPS) in 2017. Submission rates for Accountable Care Organizations (ACOs) were 98% and rural practices were 94%.
CMS announced it will release MIPS Final Scores and Feedback for the 2017 Performance Year in July. Clinicians can view their preliminary performance feedback now on the Quality Payment Program website. However, the scores can change between now and July based on a few different factors.
Choosing what MIPS measures to report for your practice can be overwhelming, especially when you are reporting on behalf of several providers, across multiple specialties, and in some cases at different practice locations. An important consideration is whether group reporting could reduce the amount of time and resources your practice spends on your data reporting activities, while maximizing your MIPS scoring potential.
The 2018 MIPS reporting year is well underway. CMS is continuing to offer some flexibility during Year 2 of the program, but the financial stakes are higher for not reporting or failing to meet the minimum MIPS threshold. Whether you have already started collecting data or are still developing your MIPS reporting plan, there are some important changes you need to know to ensure your reporting stays on the right track.
CMS recently announced it is changing the name of the MIPS Advancing Care Information category to the Promoting Interoperability category. While the name is different, the requirements for reporting this MIPS category are the same.
Not sure if you are required to participate in MIPS for 2018? There are no changes in the "types" of clinicians eligible to participate this year. However, the Low-Volume Threshold was revised to include clinicians who bill more than $90,000 annually in Medicare Part B allowed charges AND provide care to more than 200 Medicare patients. CMS offers providers an easy way to check their individual and group level participation status online.