Knowing the intricacies of the Merit-Based Incentive Payment System (MIPS) is practically a requirement for orthopedic clinics that want to earn reimbursements from Medicare patients.
Of course, this is easier said than done. There are hundreds of quality measures that are included in MIPS, periodic changes, eligibility exclusions, and other risks to consider when dealing with the program.
Speaking of changes, what’s in store for MIPS in 2023? Let’s take a look at what MIPS is and what orthopedic practices should watch out for in 2023:
MIPS is a system of value-based reimbursement that falls under the Quality Payment Program (QPP). MIPS is used to determine Medicare payment adjustments and allows “eligible clinicians” (ECs) to get a payment bonus or penalty (or no adjustment whatsoever) depending on composite performance scores.
The four performance categories of MIPS are:
It should be noted that a MIPS performance year begins on January 1 and ends on December 31 each year. Eligible clinicians need to submit the data they collected for MIPS by March 31 of the following year to get payment adjustments under Medicare Part B claims for the year after the data was submitted.
In other words, if you collected data for MIPS in 2023, you would need to submit it by March 31 of 2024, and get payment adjustments in 2025.
Ultimately, MIPS is a streamlining of previous pay-for-performance programs that helps clinicians of all specialties more accurately report the performance of their practice.
For 2023, there are a few specific things that orthopedic surgeons, practice managers, and other staff will want to watch out for. In a recent Virtual Summit (available for view online to current Phoenix Ortho Customers with Knowledge Base access), we featured a discussion by Kyle Meadors, the MIPS/MACRA/CQM expert for Chart Lux Consulting, on the areas of MIPS that orthopedists should watch out for:
Kyle reported that, for the most part, traditional MIPS won’t be changing much from calendar year 2022 to 2023. It essentially has the same measures and activities from 2022, but there are a couple of important things to note within the Promoting Interoperability category:
In MIPS, MVP stands for “MIPS Value Pathways,” a new reporting option that starts in 2023. This is an optional reporting solution for calendar year 2023 that is separate from traditional MIPS.
While MVP has the same four main categories as traditional MIPS, MVPs are separated into distinct subsets of measures and activities that are related to a given medical care specialty. Examples of MVPs that may be applicable to an orthopedist might include:
These are just a few of the current MVPs that are available. There may be more paths to be added by CMS in the near future.
Starting this year, MVPs are an alternative pathway for clinicians along with the traditional MIPS program you have done in the past. If clinicians elect to stay with traditional MIPS, there is nothing for them to do, but if they do wish to participate in an MVP, they must register with CMS to do this sometime between April 3 and November 30 of this year.
Kyle Meadors urged viewers to start looking into this program in the near future since CMS has indicated they would like to eventually retire traditional MIPS and have clinicians only work within an MVP pathway of their choosing.
For MIPS, interoperability and quality of care seem to be major focuses for 2023, as the changes to information blocking and electronic health information (EHI) indicate.
Some of the major changes Kyle highlighted in the virtual summit include:
In short, there will be more means for patients to access their EHI personally and share it with their other care providers.
What should orthopedic surgeons, practice managers, and other staff do to comply with the 2023 MIPS rules—and the new programs that are going to be rolling out over the next few years?
Some “next steps” recommended by Kyle Meadors include:
Are you ready for MIPS reporting requirements in 2023? Reach out to Phoenix Ortho to discover how you can simplify MIPS for your practice ASAP!