The MIPS (merit-based incentive payment system) is one of the two tracks which fall below the quality payment program that moves the providers of Medicare Part B to the payment system that is performance-based. The new program is focused on improving the quality of services. If you are an eligible clinician, there are a couple of things you will have to do. Here are the four ways that you can get ready for MIPS.

Implement a certified EHR technology

The beauty of implementing MIPS is that it will help you earn up to 12% or even more on the Medicare Part B payments. You will also be able to avoid penalties that can cost you up to 4% negative payment adjustment for your reimbursements for Medicare Part B.

Implementing a well-designed EHR (certified electronic health record) will enable you fulfill the meaningful use as well as the PQRS requirements with less effort. The right EHRs will give you real-time summaries of quality, help you measure progress and can be used to generate attestation documents. All this will simplify the administrative efforts, thus enabling you to meet the program goals.

Meet quality reporting program measures

Another important thing you will have to do is to meet the current quality reporting program measures. The MIPS will combine as well as streamline the existing HER incentive program and the pay-for-performance program measurements into a single program.

• Physician quality reporting system (PQRS)

• Meaningful use (MU)

• Value-based payment modifier (VM)

The sooner you are able to meet the existing measures in the current program the sooner you will earn higher payment bonus when you start using the MIPS. Being well prepared in advance will further enable you to pick the right MIPS CMS.

Keep track of MIPS

To maximize Medicare bonuses, it is imperative that you keep a close eye on the MIPS requirements. You should also keep track of other components of Medicare Access & CHIP Reauthorization Act legislation. The CMS usually updates the requirements annually. Keeping up with the updates will help meet as well as surpass the requirements for every year.

Prepare for the CPIA

CPIA refers to clinical practice improvement activities. This is an additional category in the MIPS program. There are no specific requirements on this category that have been released by the Centers for Medicare and Medicaid Services (CMS). However, it is predicted that the requirements will be focused on improving the following categories:

• Care coordination

• Expanded practice access

• Beneficiary engagement

• Population management

• Participation in the alternative payment model

• Patient safety & practice assessment

As time passes, the MIPS score will become more important to clinicians. Today, after you start using this new program, you will start earning reimbursements two years later. You can earn up to 27% more with the Medicare payments. If you are not in the program, you can lose up to 9%. The good news is that advance planning will help leverage on the existing efforts as well as help you start investing in the resources that will help maximize MIPS scores. Needless to say, the MIPS is quickly becoming a mandatory requirement.