MIPS Deadlines Are Coming Soon - Here's What You Need to Know
Posted by Raffie Sescon
Major MIPS deadlines are on the horizon, and missing them could mean penalties or money left on the table. With 2020 being a challenging year for clinics, MIPS reporting could mitigate the losses practices suffered in the last several months. MIPS 2020 comes with more bonuses to earn and incentives to qualify for. You also need to know the rule changes and what you can do to report for MIPS and maximize your earnings successfully.
October 3rd is the deadline to start the 90-day minimum performance period for the Promoting Interoperability Measures and Improvement Activities performance categories. That’s 40% of your MIPS composite performance score, meaning that neglecting either one could substantially hurt your score and, in turn, reduce your chances of receiving incentives.
In its 4th year, the MIPS program continues to gain momentum, and the requirements are continually increasing. While the reporting rules change, achieving compliance becomes more challenging, and incentives become harder to earn.
Key MIPS Changes You Need to Know
MIPS 2020 brings more points and bonuses to earn. The positive and negative adjustments have increased--you can get up to 9% more incentives, but that also means you now have a risk of receiving a 9% penalty.
To avoid a negative payment adjustment, you must earn a minimum of 45 points. And if you want to qualify for the exceptional performance bonus, which could grant you an additional sliding scale positive payment adjustment of up to 10%, you’ll need to earn 85 points.
Also, qualifying clinicians who encountered difficulty throughout this year can apply for an “Extreme and Uncontrollable Circumstances Exemption,” reweighting any or all MIPS performance categories for the 2020 performance year. It will allow you to reweight one or more of the categories to 0%.
MIPS Reporting Made Easy
Especially in the middle of a pandemic, your MIPS compliance shouldn’t be an additional burden. We want you to earn more from MIPS and avoid penalties with as little inconvenience as possible, providing everything you need for a smooth and straightforward MIPS attestation.
To help you get the most out of MIPS, Meditab has the tools and the team to get you through reporting for this year and the years to come. Our MIPS reporting and quality management solution includes a MIPS-ready EHR software and a team of attestation experts who will guide you every step of the way to MIPS success.
Now, more than ever, it’s essential to be on top of your MIPS performance. Get started today!