MIPS / MACRA

MIPS / MACRA

The healthcare MIPS 2021 means a great organizational reputation besides bonuses and incentives. The APMs (Advanced-Payment-Models) is the only replacement to MIPS healthcare. MIPS eligible need to submit MIPS for avoiding penalties – cutting a few thousand from the Medicare reimbursement. Practices or healthcare providers in a rural area can take advantage of it. MACRA Act is the bipartisan legislation that revolved into the law on 16th April 2015. It drives MIPS and everything related to it. Indeed, that is the authority of MACRA. The reporting window of MIPS 2021 is available till 31st March 2022. Therefore, you can file your outstanding data till then.

CMS has recently increased the score of performance threshold from forty-five to sixty to avoid possible penalties. Therefore, 2021 is considered extremely tough. After the triumph of P3, QPP 2020, QPP 2020, and QP 2018, as MIPS Qualified Registries, endures for reporting QPP 2021 for eligible practices and clinicians.

MACRA and MIPS work parallel. MIPS is based on accountability, value, and quality.  Provided that the objective is met, ECs (eligible clinicians) will be losing nothing, but gaining everything. Lastly, MIPS incentives will provide the best incentive to the practice.

About MACRA

MACRA is a law governing various programs, including QPP. The QPP combines VBM (value-based modifier), HER (Medicare-electronic-health-record), and PQRS (physician-quality-reporting-system) programs into a single program. That single program is called MIPS (merit-based-incentive-payment-system). Therefore, allowing MIPS and MACRA to be always together.

MIPS help navigate value-based care through the healthcare system CMS outlines MACRA as the enactment of the fresh payment order, rewarding clinicians to demonstrate improved care rather than taking care of more payments.

Moreover, MIPS recommend clinicians work in various categories, such as:

  • PI (promoting interoperability)
  • Quality
  • IA (improvement activities)
  • Cost

The final high MIPS score is based on all the above categories as they have all measures to report and support. The quality measures of MIPS are a common factor because they are identical in the number (normally 6) for practices.

MIPS Steps – Quality Reporting

MIPS and Eligible Clinicians

Every single performance category of MIPS must go through reporting at some point in time. We know everything important for reporting them. Reporting MIPS will be easiest after you hire a qualified MIPS registry like us. We can help dentists, pediatrics, orthopedics, surgeons, physical therapists, medicine physicians, urologists, ophthalmologists, psychiatrists, nephrologists, pain specialists, neurologists, optometrists, gastroenterologists, chiropractic, cardiologists, pathologists, radiologist, physiologists, cardiothoracic surgeons, gynecologists, rheumatologists, obstetricians, public health specialists, and endocrinologists.

Data Verification and Validation

Submission of the MIPS data needs you to select a type of collection first. With Fast Billing Solutions, clinicians select MIPS CQMs for reporting ahead. Apt verification and validation of measures for reporting must have above 75 scores. This is where you will get incentives with bonuses afterward.

Fast Billing Solutions, as the third-party arbitrator, follows excellence with tradition and submits data for practices. As a group or an individual, you can report MIPS CMS Quality measures. CMS identifies registries and then approves them yearly according to the given standard criteria.

The MIPS consultancy organization (the registry) would be your solution for accurate and care-free submissions. It will allow you to focus more on your basic job that is looking after patients.

Submission of MIPS Data

Here are the five steps to submit data of MIPS to the CMS:

  1. An IT health expert will talk to you over a phone call for around thirty minutes to understand your clinical requirements and workflow.
  2. In the second step we will shortlist measures and inform the practice about their reporting activity.
  3. We will reduce practice workload by taking care of cost components.
  4. Self-educating ourselves by the feedback according to the QRUR TIN level reports.
  5. Consistent updates reporting about CMS reporting and compliance criteria.

As a trusted and experienced MIPS and MACRA Qualified service provider, we offer your budget-friendly packages to cover all your MIPS/MACRA requirements.

Support: +15160-306-9985