Physicians! It’s time to prepare for the MIPS 2019 reporting period. There’s only a little time left.
This time may be hectic and stressful, even for MIPS qualified registries. But don’t worry, P3 Healthcare Solutions has come up with effective tips to target high MIPS scores.
Let’s be honest, MIPS QPP can be a daunting approach to earn incentives for those who are not careful.
On the other hand, it can be rewarding and tends to appreciate clinicians’ efforts for showing remarkable performance.
Now, the bad performance can’t be blamed over a misunderstanding. It’s been three years since MIPS if you still can’t perform well, you should expect financial setback.
Financial Risk Is Increasing!
- This year, the performance threshold is thirty points.
- Financial risk is up to 7%.
You can imagine that the reporting complexities will be higher than the years before. Some people will win this game while others will lose. The only way forward is to strategize beforehand and report according to the specified guidelines.
So, just let’s dig into three important points to consider before MIPS 2019 reporting.
Understand the Criteria for the Minimum Performance
Did you know that only by correctly reporting for Improvement Activities (IA) and Promoting Interoperability (PI) categories can give points up to 40? It is at least 10 points more than the minimum threshold that can save from the penalty.
Speaking about the reporting strategy, keep in mind that this year, PI category data submission has especially been strict. Now, it’s not enough to just say that yes! I did it. You have to provide substantial evidence for the performance.
Pay Attention to MIPS Quality Measure
You might be thinking that if reporting for just IA and PI is enough to save your face, why not just stop there.
But we suggest, NO! You should not only be considering penalties but the goal should be incentives and bonuses.
Striving for better opportunities give margin to stay ahead of game from those physicians, who might only have taken measures to prevent themselves from penalties.
So, working not only to save yourself but to earn incentives and bonuses should be included in strategies, and reporting for MIPS quality measure is an efficient way to do that.
Don’t Wait Until the Very End for Data Submission
CMS – The Centers for Medicare and Medicaid require data for 90 days of PI and IA performance categories. The same is not the case with Quality and Cost measures.
CMS also has a specified timeline in which eligible clinicians can report data to them. However, if you consult a MIPS qualified registry, you are able to save data and make relevant changes from time to time.
March 31, 2020, until 8 p.m. EDT is the last date for QPP MIPS 2019 data submission. During this period, eligible clinicians can also update their data if required. So, until the submission window stays open, you have time to make changes to comply with the CMS requirements to score high in the end.
This strategy reduces the chances of errors and data redundancy. MIPS is a bit complex, but the key to success is comprehending the reporting criteria, which is an easy process when collaborated with MIPS consulting services as P3 Healthcare Solutions.
Small medical practices or hospitals need their time to plan, but a smart strategy can go a long way to maximize returns, optimize time, and efforts.
So, start planning today.