This post is part of the MACRA Monday series of blog posts where we dive into the details of the MACRA Quality Payment Program.
We’re going to keep this post short and sweet since it’s a holiday. However, we wanted to keep going with our regular MACRA Monday series. As we start to talk about the details of MIPS, the key change in the MACRA final was removal of the “Cost” category from MIPS. Ok, it wasn’t really removed. It’s still apart of MIPS, but it doesn’t influence the payment adjustment that you’ll receive. For those following along at home, the cost performance category in MIPS was a replacement of the Value Based Reimbursement Modifier.
Here’s the full breakdown of the 4 MIPS Performance Categories and how much weight each category will get in determining your MIPS Composite Score:
As a reminder, the Quality category replaces the old PQRS program. The Improvement Activities category is a new category. The Advancing Care Information category is the meaningful use replacement. We already mentioned that the Cost category is a replacement of the Value Based Reimbursement program.
Looking at the weights above, if you’re participating in PQRS, then MIPS is not going to be an issue for you. If you’ve been doing PQRS and Meaningful Use, then you’re well positioned to get access to the extra incentives available under MIPS. Although, remember that the MIPS incentives are subject to budget neutrality.
That’s the basic overview of the MIPS categories. Next week we’ll start diving into more details on each category.
Be sure to check out all of our MACRA Monday blog posts where we dive into the details of the MACRA Quality Payment Program.