CMS recently reported that 95% of MIPS eligible clinicians received a positive or neutral payment adjustment for their MIPS performance in 2017. Unfortunately, this means that 5% of MIPS eligible clinicians will be penalized in 2019 for not reporting MIPS last year. And the penalty for not reporting is even higher this year - an automatic 5% deduction of your 2020 Medicare reimbursements. There’s still time to report MIPS for 2018 to protect your Medicare reimbursement. MDinteractive’s 2018 MIPS Reporting Checklist will guide you through the steps to take now to successfully report MIPS.
As we head into the final stretch of Year 2 of the Merit-Based Incentive Payment System (MIPS), clinicians can finally see the finish line approaching for the 2018 performance year. This year MIPS is made up of 4 components: Quality, Promoting Interoperability (formerly ACI), Improvement Activities and Cost. The Quality category accounts for the most at 50% of your total MIPS score. While many clinicians have already collected data throughout the year, it’s not too late to develop a strategy to successfully report Quality and potentially maximize your Medicare reimbursements in 2020.