6 Ways to Prepare for MIPS Implementation
MIPS is sending shock waves through the medical industry. And there’s no doubt, MIPS can be intimidating.
But let’s face it, this probably isn’t your first rodeo with healthcare reform. If you managed to survive Meaningful Use, then you can handle the Merit-based Incentive Payment System, better known as MIPS.
To survive and thrive with MIPS, you need to prepare.
A physician’s survival guide
To stay afloat, independent physicians can prepare for MIPS by focusing their energies on these actions:
1 – Stay focused on MU and PQRS
These programs aren’t going away. Meaningful Use, PQRS (Physician Quality Reporting System) and VBM (Value-Based Modifier) will compose up to 85% of your MIPS Composite Performance Score. Your financial reward will be based on those scores. Take time now to master these basics.
2 – Dig into clinical quality measures
For physicians, it’s imperative to identify the potentially highest performing clinical quality measures appropriate to your scope of practice. Check these measures against other quality program initiatives. Figure out how to maximize efficiency and performance levels.
3 – Examine your EHR system’s viability
Is your electronic health records technology certified? Some systems aren’t able to collect quality data, which you need to report on quality measures. Can you actually connect and communicate with other EHR systems? Connectivity will be a big factor for MIPS.
4 – Get on top of PQRS reporting
Check out PQRS systems. Find the PQRS reporting vehicle that best fits the needs of your practice. The reporting mechanisms can vary greatly, so read the fine print.
5 – Embrace APMs
Get used to Alternative Payment Models as they are the new reality. They include the Accountable Care Organization (ACO), Medicare Shared Savings Program, Patient-Centered Medical Home (PCMH), etc. The highest-achieving providers (with the best Composite Performance Scores) will have the best financial opportunities in MIPS territory.
6 – Monitor. Tweak. Move Forward.
Monitor quality report card dashboards – early and often – to identify deficiencies, fix and move on to the next performance level. This is your top priority, making the CPS incentives work in your favor. You can’t ignore it.
That’s it – your game plan. Devote some quality time every month. Get on top of these basics. The metrics will be especially important to you. There’s serious talk about giving you more time to prepare. But now’s the time to get started.