Understanding the CMS' Merit-based Incentive Payment System (MIPS): Are you ready for performance-based Medicare reimbursements?
Why Should you Attend:
The Medicare Access and CHIP Reauthorization ACT of 2015 (MACRA) created a new quality and utilization reimbursement system that will significantly impact the vast majority of Medicare providers starting on January 1, 2017. Most providers will fall under the Merit-based Incentive Payment System (MIPS). MIPS will combine the Physician Quality Reporting System (PQRS), the Value-based Modifier (VM) program, and the Meaningful Use of Certified EHR Technology (CHERT). Performance in these areas will be tracked and providers will need to select from a list of Clinical Practice Improvement Activities approved by Medicare. Data received by Medicare will be used to determine the Composite Performance Score (CPS). The CPS will range from 0-100 and will determine up to +/- 9% payment adjustment on Medicare reimbursement. The CPS will be published by CMS on the Physician Compare website and will be publically available. This may have a significant impact on providers and their practices. This session will discuss best practices around how to achieve the highest possible CPS and the importance of starting preparations as soon as possible.
Understand MACRA & Grasp key Concepts
Objectives of the Presentation:
Understand MIPS long-term program alignment and participation timeline
Understand the four components of MIPS and how information is gathered under each performance category:
Advanced Care Information
Clinical Practice Improvement Activities
Understand how the Composite Performance Score is determined
Understand areas that need to be focused upon in preparation for MIPS