The second tool of our new MACRA: MIPS Toolkit is a checklist for navigating the first year of MIPS.
With MACRA, CMS changed the healthcare industry by announcing they were repealing Medicare Part B’s SGR. It replaces the old reimbursement formula with a new value-based reimbursement system called the Quality Pay Program (QPP).
Within MACRA there are two tracks: Advanced Payment Model (APM) andMerit-based Incentive Payment System(MIPS). MIPS combines the existing Medicare Meaningful Use, Physician Quality Reporting System, and Value-Based Modifier programs into a single program to help ease the burden and lessen the complexity. Many practices have yet to begin preparing for MIPS simply because it’s so complicated. Unfortunately, very few clinicians are likely to be exempt from MIPS so it is better to prepare now than be caught unprepared. Vendors and consulting groups are already starting to be booked up for the last quarter of this year and the first quarter of next and you do not want to be left without assistance in this crucial time.
Since we understand the nuance of the whole process, we have come up with a checklist to keep you on track as you start making the shift. Our checklist is divided by quarters, starting with the first quarter of 2017. Do not worry if you come across this post later, as you can start at any point. Simply expedite the monitoring and research portions of the checklist.
Our MACRA: MIPS checklist starts out with research and planning. The first step is confirming MIPS is the right path for your practice. Afterwards, you should decide on how you are going to report and develop a roadmap for reporting the next two years. The second quarter deals with monitoring your monthly performances in the transition year and adjusting workflows as necessary in areas that need improvement. In the next two quarters, you should begin training and working through upgrading to the NextGen Regulatory Release upgrade (NextGen version 5.9/KBM 8.4). Finally, in the first quarter of next year, you should consider upgrading and submit your data and prepare for your 2018 transition year reporting.
The below checklist explains the steps in more detail, breaking them down into individual steps. Following it will help you stay on task, ensuring a seamless MIPS transition.
Contact us with any questions you may have.