Healthcare costs are a constant concern for payers, and the CMS is no exception. Quality care mitigates excessive costs, and the Merit-based Incentive Payment System (MIPS) is a CMS initiative designed to increase preventive care efforts by rewarding top performance. By carrying out the prescribed care quality criteria with excellence, providers can earn a bonus payment – falling short of scoring thresholds results in a penalty.
But this program is not static, as the CMS will update the program’s parameters periodically. Coming changes to MIPS scoring are published at the end of each calendar year in what is called the “final rule.” Another area where the CMS is discretionary is the Extreme and Uncontrollable Circumstances (EUC) hardship provision for impacts related to COVID-19.
The final rule is extremely long with a tremendous amount of information to comb through. Want to cut to the chase and hear the most significant changes? We’ve got you covered. In this episode, hosted by Rebekah Duke, our MIPS Quality Expert Missi Thomas shares the final rule updates every MIPS participant should be aware of, plus more information about the EUC hardship exemption that has been granted for one more year.
This podcast is for MIPS participants and those who are considering it in the future. But what is also relevant to such providers is the Accountable Care Organization (ACO). Medical Advantage now offers an ACO to support value-based care providers, including help with the downside risk associated with MIPS. Email us at firstname.lastname@example.org for more information.