MIPS in 2017 - October 2nd is last day to opt-inOctober 02nd, 2017
2017 is the first year of the Merit-based Incentive Payment System, hereafter referred to as MIPS. Basically, MIPS is the replacement for Meaningful Use and PQRS programs. In this transitional year of MIPS, you may be able to receive incentive payments if you participate in MIPS by:
Submitting data for a full year, or
Submitting data covering at least a consecutive 90-day period
Of course, participation in MIPS is voluntary but non-participation in MIPS can result in a downward payment adjustment of up to 4 %. However, participation in MIPS can result in an up to 4% incentive payment and all that is required is the submission of data. Minimal participation will result in neither penalty nor incentive payment being applied.
October 2nd is the last day to opt-in to participate in MIPS in 2017, as its only 90 days to go before we close out 2017 and start working on 2018. If you submit data for at least 90 days, then you may be eligible for a positive payment adjustment and who wouldn't want one of those?
One of the requirements for MIPS reporting is that the reporting must be done through a certified EHR. Now, while we think our AuroraEHR service is the greatest EHR ever, there are many other competent and capable EHR services that provide a good product. However, for those of our clients who do not use AuroraEHR but would like to get 4% more Medicare money instead of a 4% Medicare reduction, there is some good news.
Since your patients, schedule, provider, locations, payors, and diagnoses are already set up in Rexpert, we can add the AuroraEHR functionality and make this quicker and easier for you than any other option.
If you are interested in setting up EHR or have questions about the process, please contact us!