Specialty-Specific Value-Based Care
Driving Medicare Quality Payment Program Success With Solutions for MIPS CMS Reporting Under MACRA
MIPS ADVISING RESULTS FOR EMA® USERS IN 2021*
%
of MIPS Advising clients met their score goals
85.4 The average total score for MIPS Advising clients (2021 preliminary scores)
85 pts = exceptional performer bonus
*Numbers are estimated based on data collected by the Modernizing Medicine, Inc. Qualified Registry for the 2021 reporting year using the MIPS scoring criteria published by the Centers for Medicare & Medicaid Services (“CMS”); may not reflect scores for all MIPS categories; final results may vary. Prior performance doesn’t guarantee future results.
Why MIPS Performance Matters
Under the Merit-Based Incentive Payment System (MIPS), your Medicare reimbursement amount is driven, in part, by your ability to show high-quality and low-cost care as compared to your peers. If you need advising services to help you achieve your goals, ModMed® has your back.
With our distinguished track record in MIPS submissions, we are a recognized leader in value-based care solutions for specialty practices. And now that 2021 MIPS is over, we’re proud to announce that our EMA providers achieved outstanding preliminary results.
How Is Your MIPS Game?
A Complete MIPS Solution, Built In
At ModMed, we have embraced the arrival of value-based care. As other practices and clinics struggle to meet the requirements, you can achieve your goals with our help.
Built right into our 2015 Edition ONC CEHRT-certified EMR system, EMA, our MIPS solution can help you gather, track, benchmark and submit your MIPS reporting data:
- Collect MIPS data in the flow of the exam, without adding lots of time or clicks
- Track your estimated MIPS Composite Score and progress on each measure and category
- Benchmark your performance against peers on a daily basis
- Take advantage of our integrated Specialized Registries
- Submit your Quality, Promoting Interoperability and Improvement Activities data to CMS through our Modernizing Medicine, Inc., Qualified Registry.
BASED ON CLIENT EXPERIENCES, ESTIMATES SHOW THAT SUBMITTING THROUGH OUR QUALIFIED REGISTRY TYPICALLY TAKES ABOUT
1-5 minutes
Why Choose Modernizing Medicine?
Value-based care isn’t going away, and we know firsthand how time consuming it can be to keep track of all the factors involved in MIPS reporting. That’s why we work hard to stay abreast of the changes. We can provide you with the solutions you need to help you achieve your MIPS goals:
- Industry leadership in specialty-specific EMR content and usability
- Built-in MIPS Composite Score reporting and data submission
- Robust analytics and benchmarking tools tracking your performance in real time
- Patient engagement tools, including patient kiosk, patient portal, patient reminders and patient surveys.
- Concierge coaching with our advisory services*
- Web and mobile solutions
Make data-driven decisions to improve health and cost-effectiveness while succeeding under MACRA. Our powerful EMA EMR solutions dig deep into population trends, care utilization and quality measures, helping you stay competitive. By utilizing structured health-system-generated and patient-generated data, ModMed helps streamline workflows and give you valuable insights that can drive achievement of your goals.
*Available at an additional cost.
MIPS and MACRA Explained
When the Medicare Access and CHIP Reauthorization Act (MACRA) became law in 2015, it immediately shifted the thought process behind Medicare payments. Now, CMS rewards physicians who provide high-quality, low-cost care and penalizes those who fall behind on reporting.
As you know, MIPS is based on the reporting of a variety of performance measures, but also seeks to assess physicians on how they compare to their peers. With MIPS, if you score higher than your peers, you could receive a positive Medicare payment adjustment. Fail to report for MIPS, however, and you could receive a negative payment adjustment.
Exceptional performance bonuses are going away after the 2022 performance year.
MIPS Puts Your Bottom Line on the Line
For the 2022 performance year, you can receive up to a 9% payment adjustment (positive or negative) in 2024 (the payment year).
For example, if you bill $1.5 million per year in Medicare, your 2022 MIPS performance can make up to a $135,000 difference in your income in 2024.
However, after the 2022 performance year, there will be no more positive payment adjustments, only penalties. Can you afford not to track your score?
As a leader in value-based medicine for specialty practices, Modernizing Medicine can provide you with tools for MIPS success.
What Makes Up MIPS?
MACRA established the Quality Payment Program (QPP), which consolidated prior quality reporting programs and added a new component to create MIPS. MIPS factors in four weighted performance categories:
We encourage you to visit CMS’ Quality Payment Program site to learn more about MIPS and MACRA.
The Future of MIPS (MVPs)
MIPS Value Pathways (MVPs) is a new optional way to report MIPS starting in 2023. The goal of this program is to reduce further the administrative burden of MIPS on physicians and their staff. It will only be available to certain specialties to start, but eventually it will replace traditional MIPS. If you plan to report to MVPs, you’ll need to register directly with CMS between April 1 and November 30 of the 2023 performance year.
Frequently Asked Questions
Can I see my overall MIPS score before submitting my data to CMS?
EMA calculates your estimated MIPS Composite Score nightly, providing you with visibility into your anticipated MIPS performance, both overall and in each individual category. For information on gGastro® EHR, please visit our gastroenterology value-based care page.
Where can I find more information on MIPS in EMA?
Visit ModMed Communities for other resources related to value-based care and EMA.
Does ModMed offer additional MIPS coaching resources?
Yes, we have an optional concierge-style coaching program called MIPS Advising that is available for an additional fee.
What is ModMed’s EHR certification number?
For detailed information on our EHR certification, check out our ONC Health IT Disclosure page.
How can I submit MIPS data to CMS?
You can report MIPS from our EMA EMR system using the Modernizing Medicine, Inc., Qualified Registry. This allows you to easily transmit your Quality, Promoting Interoperability and Improvement Activities measures to CMS easily. In fact, MIPS submission through our MIPS Qualified Registry typically takes providers less than five minutes. Please consult ModMed Communities for more detailed information.
Depending on your specialty, you may also have the option to submit to certain third-party registries, such as IRIS® and DataDerm™. Visit our registries page for more information.
