
The US healthcare system is now accepting new challenges to make itself even better. Therefore, CMS has planned to upgrade the provider’s performance with its MIPS 2023 framework. It is gradually making the Medicare Quality Payment Program a little more complex. Overall, it has higher goals for improved quality care and patient outcomes. Alongside this, cutting the extra cost of healthcare at the same time as inducing value for money is another motive. However, let’s just centralize our discussion in this blog on traditional MIPS reporting in 2023.
There are several reporting participants in the MIPS program. One of them is a small practice that gets the benefits of additional reporting relaxations as compared to others. In this blog, we will see:
Whom we refer to as small practices are either solo practitioners or any small groups with 15 or fewer clinicians. These clinicians can be primary care physicians, gynecologists, chiropractors, and other providers. They usually offer personalized care that is catered to the requirements and needs of specific patients. It may ultimately result in improved patient satisfaction and health outcomes.
Small practices, however, could have particular difficulties, such as;
On the other side, we have the participation option for small practices in MIPS. Let us tell you here that programs like MIPS 2023 necessitate intensive reporting and performance-improvement efforts. Thus, it might be challenging for small practices to take part in the program. However, the CMS hasn’t neglected them at all. Therefore, like all other MIPS final rules, CMS has again provided a flexible framework for small practices.
Fortunately, the overall MIPS final rule for the 2023 performance year hasn’t changed much. The eligibility requirement is unaltered, while the penalty avoidance threshold stays at 75%. The MIPS categories are also the same. However, MIPS is now more difficult, and there are more complicated reporting options.
Mentioned below are some changes for small practices in the MIPS final rule.
Measures #110 and #111 were for influenza and pneumonia, respectively. However, both of these have now been added to new measure #493. Measure #493 makes a combination of both vaccines with the Tdap and herpes zoster vaccines. Meanwhile, the clinician who will report these newer measures will get a minimum of 7 points.
MIPS Value Paths (MVPs) will be available as a reporting option starting in 2023. MVP reporting enables physicians to better compare themselves to their peers who have similar patient experiences. Instead of six quality measures, clinicians must only report four. Furthermore, they have the option to simultaneously report conventional MIPS and MVPs. CMS will use the clinician’s highest available score out of all possible scores.
The end of the exceptional performance bonus can be detrimental to healthcare practices. Clinician groups that used the exemption and had trouble meeting the level for penalty avoidance will be immediately re-enrolled in MIPS 2023. Consequently, it will increase the dollar amount on the penalty side of the bucket.
Small practices can prosper from taking part in programs like MIPS regardless of these challenges. All they need to do is enhance patient care while cutting expenses and earning rewards. Many small practices may potentially qualify for further support, such as technical assistance or financial incentives. These factors will all make it easier for them to take part in MIPS and other value-based payment schemes.
Nevertheless, there is no silver bullet that will guarantee success. Anyhow, there are activities you may take now to maximize your score for the 2023 MIPS reporting year.
To summarize, there isn’t a universal approach to improving your MIPS 2023 score. But you can improve your chances of success by choosing your measures carefully. You may add a new measure, lower the workload on your team, or report the Promoting Interoperability category as a modest practice.
It’s not too late to begin. Please get in touch with P3Care. Being a MIPS-qualified registry, we offer you MIPS consulting services and give you the most effective solution.