MIPS PARTICIPATION: PICK YOUR PACE

Depending on the size of your practice, and outcome goal you’re looking to achieve, you can choose how many days you want to participate in the program.  The MIPS transition year stated January 1st, 2017 and runs until December 31st, 2017. The most efficient and effective way to take full advantage of MIPS is to take part in a full year. However, submitting data for a consecutive 90 days can still earn you a maximum payment adjustment. You must remember to submit data no later than March 31st, 2018.

  • Full- Submit data for a full year. May earn maximum/positive payment adjustment.
  • Partial –Submit data for 90 consecutive days. May earn positive, neutral, or max adjustment.
  • Test- By submitting the minimum amount of data (for example. One quality measure for 2017), you may avoid a negative payment adjustment.
  • Do Not Participate- By choosing not to submit any data at all for 2017 you will earn a -4% payment adjustment. (go into effect January 1st, 2019).

*Note: Now that we are less than 90 days away from December 31st, 2017, you MUST submit at least one quality measure or improvement activity data using the Test option, in order to avoid the outcome of a -4% payment adjustment.

DEADLINE TO PARTICIPATE IN MIPS 2017

DON’T DELAY! DEADLINE TO PARTICIPATE IN MIPS 2017 IS OCTOBER 2ND!

Have you thought of participating in the MIPS (Merit-based Incentive Payment System) program this year, but believed it was too late? Don’t worry, there’s still enough time! The MIPS transition year started January 1st, 2017 and goes through to December 31st, 2017. You’ll need to begin your 90 consecutive days of data collection no later than October 2nd, 2017 in order to be eligible for a neutral or positive payment adjustment. Contact P3 to ensure all applicable data codes are applied to your claims starting no later than October 2nd.

To earn the maximum payment adjustment, it is best to submit data for a full year. If you choose not to submit any 2017 data, you will receive a negative payment adjustment which will go into effect January 1st, 2019. Don’t be discouraged though, if you only submit for 90 days there is still the opportunity to earn the maximum adjustment. Don’t delay, October 2nd is just around the corner, contact your P3 consultant today!

HOW TO PARTICIPATE:

For 2017, you can participate in one of three ways:

  • Submit data covering a full year
  • Submit data covering at least a consecutive 90-day period
  • Submit a minimum amount of data (<90 days)

The MIPS 2017 reporting categories consist of Quality, Advancing Care Information, and Improvement activities; all which require immense attention and may be time-consuming. Our experienced team of analysts and consultants at P3 are dedicated to reporting the high-quality care you have provided to Medicare patients. We take all the necessary steps to ensure providers are eligible for earning the maximum adjustment including, selecting all applicable quality measures and applying quality data codes to claims.

Time is running out! If you plan on submitting less than 90 days of data you must do so before December 31st 2017 to avoid a negative payment adjustment. Contact our experts at P3 at 909-245-8350 for further guidance. We can provide you with solutions that will increase the chances of a positive outcome.