The Merit-Based Incentive Payment System (MIPS) provides financial incentives for providers that meet specific metrics associated with quality, promoting interoperability, improvement activities and cost.
MIPS streamlines the previous Physician Quality Reporting System (PQRS), the EHR Incentive Program (Meaningful Use) and the Value-Based Payment Modifier activities into a single program.
We help eligible providers avoid penalties and maximize their potential earnings by optimizing their scores and meeting all their reporting requirements. For 2020, eligible providers that don’t submit or don’t score well enough will be subjected to a -9% penalty on their 2022 Medicare Part B payments. Conversely, those that submit on time and score highly have the opportunity to earn up to 9% in financial incentives.
Our MIPS registry and consulting services are part of NJII’s for-profit-subsidiary, Healthcare Innovation Solutions (HCIS), which was launched in 2018.
The Centers for Medicare and Medicaid Services (CMS) has qualified HCIS as a certified registry. After nine years of successful PQRS, meaningful use, and MIPS reporting; we have the tools, experts, and experience to help you with your MIPS reporting.
Get Started with NJII-HCIS today for 2020 MIPS Reporting.Pricing and Services
What is involved?
The quality component of the MIPS reporting program replaces the Physician Quality Reporting System (PQRS). Clinicians will be reporting in a similar fashion on six quality measures, either as individuals or groups.
Promoting Interoperability (PI)
The PI category, previously called Advancing Care Information, replaces the Medicare EHR Incentive Program. It is designed to promote efficient care with the support of technology. It requires eligible clinicians to report on the required measures or claim exclusions, if applicable.
The Improvement Activities category was designed to promote engagement in clinical activities as well as improvement in the quality of care delivered. Eligible clinicians will choose a combination of various high and medium weighted activities in order to meet the requirements.
The cost category replaces the Value-Based Payment Modifier and is designed to gauge the total cost of care during the year or during a hospital stay. The cost of the care provided will be calculated by CMS based on Medicare claims. MIPS clinicians are NOT required to submit any data to CMS for this category.