MIPS Strategy, What's Yours?
It’s 2017 and our participation in MIPS is in full swing. A MIPS strategy is absolutely necessary to succeed and it begins by assessing the practice’s readiness to compete in this new program.
There a number of questions that require significant thought as you put together a comprehensive strategy for the Merit-Based Incentive Payment System or MIPS program. Each one should make up a part of the practice’s overall plan.
Have you decided if your strategy is to avoid the penalty and stay neutral or to contend for a positive adjustment to your Medicare payments?
Have you determined the cost (i.e. time, dollars, opportunity cost, etc.) of seeking a positive adjustment?
Is your practice eligible to participate in any Alternative Payment Models, qualified or other?
Has your practice calculated a potential composite score?
Will your group report individually or as a group?
Have you chosen the measures that you’ll use to meet the Quality component and what criteria are you using to do so?
Have you selected the measures, both base and performance, that you’ll use to meet the Advancing Care Information Component?
Have you decided which improvement activities that you’ll use to meet the Clinical Practice Improvement Activities?
Have you accounted for any possible bonus points available under Quality and Improvement Activities?
Do you know how your practice will report all of these measures and activities?
MedMan values the importance of focusing on quality and maximizing reimbursement. If by the end of answering all of these questions you feel that your practice could use some additional help with putting together its MIPS strategy, please feel free to contact Jesse Arnoldson at Jesse@MedMan.com or 208-680-7271.