MIPS reporting is essential for practice’s bottom line
By ION
While performance categories have not changed, with Cost 30%, Quality 30%, Promoting Interoperability 25% and Improvement Activities 15%, your practice must have 75 total points for 2024 and 2025 reporting years to avoid a penalty. That is up from the three-point threshold in 2017 when MIPS started. Most importantly, practices need to understand what not reporting could do to their CMS reimbursements – with a negative adjustment of up to 9% in the 2024 performance year and corresponding 2026 payment year.
The MIPS Consulting Team reported the changes Performance Categories and several other reimbursement subjects like the MIPS Value Pathways (MVPs) and Advance APMs in a recent webinar viewable below. Their insights are helpful across all specialties but had some specifics highlights related to vision and retina care.
The MIPS team has helped over 200 practices (large and small) and 1200 providers in assisting them with a wide variety of topics: – choosing the performance measures that best suit the practice for reporting, managing the data and working with practices to understand where practices or providers could improve with workflow improvements before the performance period concludes, working with a number of registries and help in submitting the data. The team also maintains the “Book of Evidence,” for each Eligible Clinician, which is the data to back up your reporting in the case of an audit.
To reach out with questions for the team, contact info@intrinsiq.com.