This infographic was adapted from our recent article about our mips checklist of measures you should watch for 2022.
Independent practices, practice groups, and private equity healthcare MSOs can follow these three tips to improve success under the Merit-based Incentive Payment System (MIPS) in 2022.
1. Research and Understand Changes to MIPS Scoring for 2022
Performance year 2022 is bringing big changes to MIPS. In addition to scoring threshold and category weighting updates, there are also smaller, category- and measure-specific changes that must be reviewed – as well as CMS’ removal of the pandemic-related Extreme and Uncontrollable Circumstances policy. Researching and understanding the updates to MIPS scoring will be critical for success in performance year 2022 – to get started, read our in-depth blog on the subject here.
2. Determine Which MIPS Data and Framework You Need to Use
As the MIPS program has changed over the years, so too have the frameworks for submitting and the data required for each particular framework. Traditional MIPS, the APM Performance Pathway (APP) for providers who participate via MIPS APMs, or the MIPS Value Pathways (MVPs) which are designed around specific populations of patients are all options. Success in any framework will be tied to understanding requirements specific to your circumstances, and checking to see if all measures you reported previously are still available and the same for 2022.
3. Evaluate Your Projected MIPS Performance and Adjust Accordingly
With all of the changes to MIPS, it’s time to take a critical look at your organization’s performance. Will your organization be able to continue scoring at a high-enough level to avoid being penalized? Will your organization have a difficult time adjusting to a more heavily-weighted cost category? It is crucial that your organization begins optimizing and updating its operational and reporting strategy for MIPS as soon as possible, to get ahead of increasingly demanding and competitive MIPS requirements.
Medical Advantage Can Help
Medical Advantage’s MIPS consulting team understands how overwhelming MIPS can be. We know how busy medical professionals are running their practice – let alone making the time to understand a complex and ever-shifting regulatory program. Contact Medical Advantage today to find out about how we can help get you on track for MIPS success, in performance year 2022 and beyond.