Small practices could find it tougher to avoid a penalty under the Merit-based Incentive Payment System (MIPS) in 2022 due to a higher minimum performance threshold and an increased weight for the Cost category. Just over 9% of MIPS eligible clinicians in small practices received a negative payment adjustment for their 2020 MIPS reporting and this number could go higher this year. While special policies have been established to ease the reporting burden on small practices, it is more important than ever to start MIPS reporting early. Here’s what small practices need to know about the 2022 MIPS reporting requirements and steps they can take to get started now.
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