Overview of MIPS and MACRA
Merit-based Incentive Payment System (MIPS) and MACRA can be very difficult to stay up-to-date with, unless you have someone internal that is able to spend the time to study frequent changes. If you do not, you need to look for someone to help guide your practice, such as The Bienville Group. Our group stays updated on the latest changes and can ensure that you are submitting claims properly.
What is MIPS?
MIPS stands for Merit-Based Incentive Payment System, which is a program in which uses a composite performance score. This composite performance score is based on quality, use of electronic health records (EHR), resource use, and clinical practice improvement activities.
What is MACRA?
MACRA stands for the Medicare Access and CHIP Reauthorization Act. This replaced the old Medicare reimbursement for the new value-based care program, which can be seen here. The Centers for Medicare and Medicaid Services, or CMS, stats that MACRA moves to the new payment types which reimburse providers for giving quality care over quantity of care.
What is the purpose of MIPS and MACRA?
The purpose of MIPS and MACRA are to ensure that your patients are receiving the best care possible, while also ensuring that your providers are receiving the highest reimbursements possible. Through these two changes, the shift focuses from quantity of care to quality of care.
How do I use MIPS and MACRA successfully?
The best way to guarantee you are using MIPS and MACRA successfully is to hire help with this, as the changes are frequent and typically hard to navigate. In order to be successful with MIPS, make sure you are using your EHR to track quality measurements, find MIPS resources and help, and train staff appropriately.
Why do I need help with MIPS and MACRA?
The CMS guidelines for MIPS and MACRA are always changing and it is nearly impossible to keep up with unless you have someone dedicated to tracking these changes full time. It is very difficult to navigate and when a provider does not understand the changes, there is money that is not being claimed. The Bienville Group is dedicated to tracking changes and informing your providers and staff of these changes. Choosing The Bienville Group to help will ensure you are receiving the highest reimbursement without the stress of navigating the frequent changes. Give us a call today to see how our team can help you.