Here we are past the mid-point of the second month in 2016. How are you doing in preparing yourself for the huge changes rolling down the Healthcare highway? If you are one of those who though you could withstand the 2% penalty for not reporting PQRS and think you dodged that bullet, because you heard PQRS is ending…You are wrong! Not only is PQRS not ending, it is morphing into a much larger program called MIPS. That stands for Merit-based Incentive Payment System and it is part of the MACRA law that was signed in April 2015. MACRA stands for the Medicare Access and CHIP Reauthorization Act. It replaces the sustainable growth rate (SGR) and is not going away as it was passed by a HUGE bi-partisan vote. If you want to read more about it, you can do so here: http://www.aafp.org/practice-management/payment/medicare-payment.html
MIPS is PQRS on steroids and those of you who are trained in Chiropractic understand the impact of steroids on the body! You are part of the Healthcare provider body that will be impacted by MIPS. MIPS overlays and reaffirms Meaningful Use, PQRS and adds what they call a value-based modifier (VBM). (More on the VBM in a future blog article)
Starting CY2017, MIPS will annually measure Medicare Part B providers in four performance categories to derive a “MIPS score” (0 to 100), which can significantly change your Medicare reimbursements. Now if you are thinking well, I don’t have a lot of Medicare patients, take note many of the private insurance companies are following closely in step with CMS, in fact some of them are running even faster in how they are changing their reimbursements to value-based (i.e. based on performance outcomes).
Here at the Academy, we know you just want to treat your patients, but at the end of the day you have to have money to keep your practice operating and keep treating patients. That’s where we can help you! We understand how to collect the data these new programs require. This data is really what you have been waiting for to prove to other healthcare providers the value you bring to your patients’ and the efficacy of your treatments.
Give us a call, let’s work together. If you are not collecting and sharing that data, you are hindering your Practice and hurting your Profession!