At the beginning of 2017, the Meaningful Use (MU) Electronic Health Records Incentive Program, Physician Quality Reporting System (PQRS), and Value-Based Modifier (VBM) programs were combined to form the Merit-Based Incentive Payment System (MIPS). This new program was created to measure MIPS reporting from previous CMS quality initiatives, while also strengthening financial incentives for those that participate in the new program.
Healthmonix has been a CMS-Qualified PQRS Registry since 2009, enabling streamlined reporting for tens of thousands of providers with a 99.8% success rate in penalty avoidance and has delivered over $20 million in total incentive payments to clients. Medusind clients will have access to the MIPSPRO platform which includes:
By partnering with Healthmonix, Medusind will help clients stay ahead of the curve while optimizing their workflow and complete data entry. Ultimately, the goal will be to progressively increase incentives by keeping our clients’ MIPS composite performance score above the determined threshold.
Under MIPS reporting, a provider’s MIPS Composite Performance Score (CPS) is rated on a scale from 0 to 100, and significantly influences Medicare payment adjustments for each payment year. MIPS scores are calculated based on each providers level of participation in the different categories and ultimately determine the CMS penalty or level of incentive earned for a reporting year. Scores that exactly equal the performance threshold will not see any payment adjustments, while those above will progressively see increasing incentives. Alternatively, those with scores below the threshold will be subject to increasing penalties.
Improve the financial health and productivity of your medical practice.
Let us handle your dental eligibility verification and back office operations.
Watch our client testimonials to hear what our biggest supporters have to say.