The 2017 MIPS Reporting year is a transition year with reduced requirements. Earn maximum reimbursements with full participation. Contact us today to start your MIPS training & implementation plan.
The Merit-based Incentive Payment System (MIPS) replaces multiple government programs with one stream-lined program that awards monetary incentives for participation. Likewise, non-participation in 2017 equates to a 4% penalty on your 2019 Medicare Part B reimbursements.
Two large sources of funds are provided that will provide incentive for providers to participate fully.
- The 4% penalty of all failing providers will be given to providers who participate. Medicare estimates that this will be approximately $199 million. The determination of how much will be given to each provider depends on how many that fail & how many providers participate & the level of participation. Maximum bonuses in 2017 could be as high as 4% times a scaling factor as high as 3.0 (or 12.0% of your Medicare Part B reimbursements).
- A guaranteed $500 million is to be split between the providers who are considered exceptional performers to provide an additional bonus of no more than an additional 10% of your Medicare Part B payments.
2017 MIPS Performance Categories
Earn points in each of the following performance categories to achieve a composite score. Earn 70 points to be considered an exceptional performer and maximize your revenue by earning bonuses out of both buckets of funds.
60% in 2017
|Advancing Care Information (MU)||
25% in 2017
|Improvement Activities (NEW)||
15% in 2017
|Cost (VBM) – 0% in 2017|
Don’t lose out on your maximum Medicare Part B Reimbursements. Contact our knowledgeable MIPS Reporting experts for a MIPS training & implementation plans that works for your practice!
Want to learn more about how MIPS can earn additional revenue for your practice?