Merit-based Incentive Payment System (MIPS) is the Centers for Medicare and Medicaid Services quality control program. Which was started in 2015 to rate a healthcare provider’s quality of care and cost-effective treatment.
We are almost three quarters finished with 2019. Have you opted in with MIPS which is new for physical therapists in 2019? Earning a high MIPS score (80 points or higher) will reward your practice with up to a 7% upward adjustment. A low score can cost you a 7% penalty.
You might find it overbearing to participate this year. You can run but you can’t hide from MIPS. Medicare’s current 7% downward adjustment will quickly become a 9% penalty in 2020 and a painful 11% in 2021. Knowing the federal government and Medicare, this penalty could keep increasing year by year. Can your clinic afford such a significant adjustment?
Mandatory Participation for your clinic if your practice meets all 3 requirements
● Receive more than $90,000 in Medicare part B payments in 1 year
● Provide PT for more than 200 Part B-enrolled Medicare patients
● Bill greater than 200 professional units
Your EMR software should be able to handle all MIPS requirements. For help on which EMR software providers are MIPS friendly. Contact PhysioBilling today. PhysioBilling is up to date on what you need to get your clinic the 7% bonus.
PhysioBilling is a full-service medical billing and consulting company specializing in physical therapy practices. Contact us today (516) 780-0132 or at firstname.lastname@example.org