The Merit-based Incentive Payment System, also known as “MIPS,” was created by combining and streamlining the previous quality reporting initiatives for Medicare. This consolidation increased the potential for bonus payments while lowering the financial penalties that physicians would have otherwise faced.
The implementation of MIPS offers a chance to review, rework, and enhance the current Medicare Programs centered on quality, costs, and the use of Electronic Health Records to increase their relevance to actual medical practice and lessen the administrative burdens placed on doctors.
Physicians are no longer threatened with double-digit cuts yearly under this payment system, as they were under the now-repealed sustainable growth rate. The certainty of annual payment updates is higher.
As your business partner, we at CareCloud want to remind you to review your MIPSpro Dashboard and progress in preparation for submission by February 15th, 2023. Reviewing progress in advance of the submission deadline is a critical step to ensure any corrections are addressed prior. Please check the dates and helpful information below to assist with these steps.
Vital Dates and Deadlines to Keep in Mind
CareCloud values its clients greatly, so we have compiled a comprehensive list of important dates and deadlines. Since no new submissions will be accepted after the due dates have passed, strict adherence to these dates is required.
- CareCloud Registration Deadline: The registration deadline for submission via the CareCloud/MIPSpro interface was December 31, 2022, and registrations are no longer being processed.
- CareCloud Submission Deadline: February 15th, 2023 – This is the deadline for submission via CareCloud to help ensure the successful submission of your data via the MIPSpro interface to meet the CMS Final Submission Deadline (for submission steps, see the 2022 CareCloud/MIPSpro Account Guide).
- CMS Final Submission Deadline: March 31st, 2023 – All submissions must be received by CMS by this deadline. See above for CareCloud Submission Deadline. Submissions beyond these deadlines are not permissible.
Sign up today if your 2022 MIPS Dashboard still needs to be activated!
Finding Out If You’re MIPS Eligible
If they bill Medicare Part B claims, the following “types” of providers will be regarded as “MIPS eligible Clinicians” in 2022 and will be covered by the program:
- Physicians (including Doctors of Medicine, Osteopathy, Dental Surgery, Dental Medicine, Podiatric Medicine, and Optometry)
- Osteopathic Practitioners
- Chiropractors
- Physician Assistants
- Nurse Practitioners
- Clinical Nurse Specialists
- Certified Registered Nurse Anesthetists
- Physical Therapists
- Occupational Therapists
- Clinical Psychologists
- Qualified Speech-anguage Pathologists
- Qualified Audiologists
- Registered Dietitians or Nutrition Professionals
- Clinical Social Workers
- Certified Nurse Midwives
MIPS 2022 Numbers to Know
- The Final Rule raised the minimum performance threshold to 75 points in PY 2022, up from 60 points in PY 2021
- To avoid a penalty while the Minimum threshold to avoid a penalty 75 Points.
- 70% of Eligible Instances need to be reported.
- Based on CMS calculations, there is an expected increase of more than 14% for the top exceptional performers.
- For those that do not participate at all, there will be a negative 9% adjustment on their Medicare revenue in the year 2024.
MIPS Tips & Tricks
CareCloud’s overall goal is to improve performance in other areas of your practice and to align with different MIPS categories where possible to:
- Improve the quality of care
- Reduce cost
- Improve connectivity with Health Information Technology (HIT)
- Improve Patient Experience
As a result, we’ve compiled a list of MIPS “Cheat Codes” for our client’s convenience.
START TRACKING EACH MIPS CATEGORY
- Track Quality Performance
- Complete your 90-day PI and IA for PI and IA so you can spend more time on Quality
FOCUS ON IMPROVING PERFORMANCE BY ATTACKING GAPS IN CARE
- Providers – determine if someone is not carrying their weight.
- Patients – identify if there is a patient type that is causing your scores to suffer.
- Measures – identify which measures may have been overlooked.
MANAGE MORE THAN SIX QUALITY MEASURES
- Select eight or more measures and track their performance.
- Begin removing measures throughout the year to optimize your time.
Conclusion
These important deadlines and dates could affect your MIPS reporting all year long. To stay organized and stay on top of your MIPS reporting, we encourage you to plan and use the resources on our website and your CareCloud MIPSpro account. Additionally, our MIPS experts can guide you through the MIPS deadlines and respond to your inquiries as they arise.
