The Merit-based Incentive Payment System (MIPS) is a program that incentivizes or penalizes providers based upon annually submitted quality data. MIPS consolidates Medicare's quality reporting programs, reducing the aggregate level of financial penalties physicians otherwise could have faced and providing a greater potential for bonus paymemts. MIPS has four categories - Quality, Cost, Promoting Interoperability, and Clinical Practice Improvement Activities. Each one of these categories has unique requirements that can be extraordinarily difficult to perfect. Meeting the requirements under these MIPS categories will allow you to earn a performance-based payment adjustment, and most importantly, it will keep your fee-for-service payments from being at risk.
HealthAdvanta assists physician practices, health systems, and accountable care organizations by optimizing their MIPS reporting to CMS. In addition to maintaining our CMS qualified clinical data registry, we engage our clients from planning through data submission, helping them navigate a complex process to maximize incentive opportunities while minimizing the reporting workload.