QPP Mips Participation is extremely helpful and crucial for eligible clinicians nowadays. CMS (Centers for Medicare and Medicaid Services) — the governing healthcare authority paves the path of how physicians can partake in this program.

This payment incentive program no doubt have been major financial assistance in clinicians’ lives. They, alongside their MIPS Qualified Registries, capture all data that is relevant to the progression of the healthcare industry based on the following categories.

· Quality

· Promoting Interoperability

· Improvement Activities

· Cost

We Have Come Across a Long Way Ahead in MIPS Reporting

With four performance years already completed and the fifth one almost finished, we all have learned a lot. Right from selecting the right MIPS Quality Measures to submitting data through the most suitable and comfortable MIPS data submission method!

Let’s get into some details that can help us understand MIPS reporting!

MIPS 2021 Performance Year Is Almost Over!

Yes! Within a matter of one month, we will officially be saying goodbye to the MIPS 2021 performance period. After that, we can have the 2021 reporting period start when eligible clinicians or their Mips Qualified Registries can report their data.

Before sending your data to CMS, 2021 eligible clinicians must ensure all reporting requirements that can help capture high scores. The weight of performance categories matters a lot here.

· The quality Category is at 40% of the total score.

· PI category at 25% of the total score.

· IA category is at 15% of the total score.

· The cost category is at 20% of the total score.

And each category has its reporting requirements which clinicians have to follow for maximum score. So, if you comply with the MIPS 2021 reporting criteria, chances are you can qualify for up to 5% of MIPS incentives and a bonus pool of $500 million.

We Can Feel the Effects of COVID-19!

Even though we have moved out of the lockdown situation, healthcare providers still have to keep many things in mind. Furthermore, CMS has granted many relaxations in this regard, which can be reflected in many reporting requirements.

December 31, 2021, is the last date for the MIPS 2021 performance period. And March 31, 2022, is the last date for its reporting period. We have a little time left, so as a clinician, you must hurry in compiling its data or consult MIPS consultants to avoid up to 9% of penalty by scoring at least 60 points.

Moving on to the next phase of MIPS Quality reporting, we will be dealing with many new measures. Let’s discuss them briefly.

MIPS 2022 Performance Period Is Approaching! Are You Ready for It?

The new year is bringing new opportunities for QPP MIPS. Eligible clinicians will be catering to MVPs (MIPS Value Pathways) proposed rules.

What Are MVPs?

It refers to the subsets of MIPS relevant measures and activities that intend to align all the four categories. MVPs were supposed to be implemented in the year 2021. However, with the uptight pandemic situation, CMS delayed this upgrade for one more year. Now we are here!

Like each MIPS performance year, the weights of each category change. This year, the percentages go like this.

· The quality category is at 30% of the total score.

· The PI category is at 25% of the total score.

· IA category is at 15% of the total score.

· The cost category is at 30% of the total score.

So, it is evident that the stress on the cost category has increased this time. And all eligible clinicians should keep a check on their expenses to score as much as required.

Not just the categories’ percentages are changed but also the performance thresholds. Such as, to avoid penalties, clinicians have to score at least 75 points. Moreover, the exceptional performance threshold is 95 points.

Of course, with ease in the complex administrative load, MIPS Qualified Registries must also ensure that their physicians qualify for the highest position.

Conclusion

Performing well in MIPS reporting is a hassle when you have professional help with you. However, in the end, it is you, as clinicians, who have to provide the best services to patients. If you are able to do that, despite your participation status as an individual, group, or virtual group, you can target high objectives.