Ophthalmology | Plastic Surgery | Compliance | Dermatology | MIPS | Regulatory & Compliance | Orthopedics
Each year, the Centers for Medicare and Medicaid Services (CMS) updates the criteria of the Merit-Based Incentive Payment System (MIPS). Here’s what your specialty medical practice needs to know to increase your reimbursement and avoid thousands of dollars in penalties in 2024.
CMS | MIPS | Regulatory & Compliance
The Centers for Medicare & Medicaid Services recently opened the MIPS 2022 Final Score preview. And already it has led to some confusion.
Security | Regulatory & Compliance | Security & Data Management
Performing a regular Security Risk Assessment (SRA) will help an organization ensure it is compliant with HIPAA’s administrative, physical, and technical safeguards. A risk assessment also helps practices discover areas where protected health information (PHI) could be at risk. To learn more about the assessment process and how it can benefit your organization, we recommend visiting the Office for Civil Rights' official guidance.
Clinical Efficiency | Front & Back Office Performance
No matter whether your practice is small or large, creating a Quality Improvement Team can provide the ability to remain viable in today’s rapidly changing healthcare landscape. Practices now face penalties up to 9 percent for 2020 and 2021 (an increase of 5 percent from when MIPS started) for poorly demonstrated performance. These penalties will only increase as the years go on, reaching 11 percent by the end of 2023. However, for practices that are able to properly demonstrate high quality and value, bonus potential continues to rise as well. In addition to MIPS, many insurance companies offer incentive programs with significant bonuses based on demonstration of high quality and value in a practice.
Starting today, August 3, 2020, CMS is resuming suspended medical reviews as well as initiating new audits. While this should merely be a return to business as usual for MIPS providers, it is important to note that this resumption of CMS audits will now continue regardless of the status of the current public health emergency. To help our readers get ready, we thought this would be a good time to offer a quick refresher on preparing for and surviving a MIPS audit. For reference, check out our new eBook Winning the Game: Surviving a MIPS Audit.
