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2021 Merit based Incentive Payment System (MIPS) Final Score Preview Purpose This document will answer key questions (with supporting screenshots) about the MIPS Final Score Preview available now
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Healthcare providers and organizations that participate in payment systems based on merit and incentives need the www.acponline.org/practice-resources/business/merit-based-incentive-payment-system. This system allows them to receive payments and incentives based on their performance and quality of care provided to patients. It is especially important for those in the healthcare industry who aim to improve their quality of care, meet performance criteria, and benefit financially from participating in such incentive programs.
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The Merit-based Incentive Payment System (MIPS) is one of the participation tracks under the Quality Payment Program (QPP) established by the Centers for Medicare & Medicaid Services (CMS) to provide incentives for healthcare providers to deliver high-quality, cost-efficient care.
Eligible clinicians including physicians, physician assistants, nurse practitioners, clinical nurse specialists, and certified registered nurse anesthetists who meet the criteria set by CMS are required to participate in MIPS.
To fill out the MIPS reporting, eligible clinicians need to collect and report data on quality measures, improvement activities, promoting interoperability, and cost. The data can be submitted through various reporting mechanisms including claims, EHR systems, registries, and QPP website.
The purpose of the MIPS program is to promote value-based care by rewarding healthcare providers for delivering high-quality care, improving outcomes, and reducing costs.
Clinicians participating in MIPS must report on quality measures, improvement activities, promoting interoperability measures, and cost data to demonstrate their performance and receive a payment adjustment.
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