Prepare for the MIPS 2019 Reporting Period

Urgency for Physicians

Physicians must prepare for the MIPS 2019 reporting period, as time is running out. This phase can be particularly hectic and stressful, even for MIPS-qualified registries. However, P3 Healthcare Solutions offers effective strategies to achieve high MIPS scores.

Understanding MIPS QPP Challenges

Navigating the MIPS Quality Payment Program (QPP) can be challenging for those who lack careful planning. While the program rewards clinicians for exceptional performance, poor outcomes cannot be attributed to misunderstandings. With three years of experience in MIPS, failure to perform well may lead to financial drawbacks.

Increasing Financial Risks

Performance Threshold and Financial Implications

This year, the performance threshold stands at thirty points, with financial risk reaching up to 7%. The complexity of reporting is expected to increase compared to previous years. To succeed, it is essential to strategize in advance and adhere to the specified guidelines.

Key Considerations for MIPS 2019 Reporting

1. Understand the Minimum Performance Criteria

It is crucial to recognize that accurate reporting for Improvement Activities (IA) and Promoting Interoperability (PI) categories can yield up to 40 points—10 points above the minimum threshold needed to avoid penalties. This year, the PI category has particularly strict data submission requirements; merely stating compliance is insufficient. Clinicians must provide substantial evidence of their performance.

2. Focus on MIPS Quality Measures

While it may seem sufficient to report solely for IA and PI categories, this approach is not recommended. The goal should encompass earning incentives and bonuses, not just avoiding penalties. Striving for better performance positions clinicians ahead of those who only focus on minimal compliance. Therefore, incorporating MIPS quality measures into reporting strategies is essential for maximizing potential rewards.

3. Timely Data Submission

The Centers for Medicare and Medicaid Services (CMS) require data for 90 days of PI and IA performance categories, unlike the Quality and Cost measures. CMS has established a timeline for eligible clinicians to report their data. Consulting a MIPS-qualified registry can help save data and make necessary adjustments over time.

The final deadline for QPP MIPS 2019 data submission is March 31, 2020, at 8 p.m. EDT. During this period, eligible clinicians have the opportunity to update their data as needed. Keeping the submission window open allows for adjustments to comply with CMS requirements and enhance final scores.

This proactive strategy minimizes the chances of errors and data redundancy. Although MIPS may appear complex, understanding the reporting criteria becomes manageable with the support of MIPS consulting services like P3 Healthcare Solutions.

Conclusion

Small medical practices and hospitals require adequate time to strategize, but an effective plan can significantly optimize returns and streamline efforts. Begin planning today to navigate the MIPS 2019 reporting period successfully.