Do You Understand MIPS? Prove It! | AdvancedMD

Features Navigation

Live Chat (800) 825-0224 Live Demo

← Back

Do you understand MIPS? Prove it!

MACRA/MIPS

 

Do you understand MIPS? Prove it! (to yourself, that is).

We all know MACRA took effect at the start of 2017. This law changes how the government pays physicians for Medicare services and establishes two payment tracks for physicians, the Advanced Alternative Payment Model (APM) and the Merit-based Incentive Payment System (MIPS).

Most independent medical practices will probably choose the MIPS track. As you know, practices are required to report their performance on a variety of metrics or face a financial penalty in the form of lower payments from Medicare, however, practices that report their data have the possibility of earning a financial bonus. We like the sound of that!

Although MIPS can affect a small practice’s income, polls show that most doctors still don’t know as much as they should about it. How much do you know? Read these questions provided by Medical Economics to find out:

What does ‘MIPS’ stand for?
a) Mandated Insurance Payment Structure
b) More Income for Physicians Society
c) Merit-based Incentive Payment System
d) Multiple Indices of Pancreatitis Syndrome

Correct answer: c) Merit-based Incentive Payment System

 

How many performance categories are included in MIPS during its first year?
a) 3
b) 4
c) 5
d) 6

Correct answer: a) 3

 

Which of the following is not a MIPS performance category?
a) Advancing care information
b) Improvement activities
c) Quality
d) Patient registry development

Correct answer: d) Patient registry development

Medicare’s “payment adjustments” (financial bonuses and penalties) under MIPS begin in which year?
a) 2018
b) 2019
c) 2020
d) 2021

Correct answer: b) 2019

 

The maximum payment adjustment, either positive or negative, for data reported in the first year of MIPS is:
a) 4%
b) 5%
c) 6%
d) 7%

Correct answer: b) 5%

 

The maximum MIPS payment adjustment will increase each year until 2022 when it will be:
a) 7%
b) 8%
c) 9%
d) 10%

Correct answer: c) 9%

 

The minimum amount of data a practice must submit in 2017 to receive a financial bonus (positive payment adjustment) is:
a) 30 days’ worth
b) 60 days’ worth
c) 90 days’ worth
d) 120 days’ worth

Correct answer: c) 90 days’ worth

 

Which of the four MIPS performance categories counts for the most in determining payment adjustments (is the most heavily weighted) during the first year?*
a) quality
b) improvement activities
c) advancing care information
d) cost

Correct answer: b) Quality replaces the Physician Quality Reporting System (PQRS); advancing care information replaces the Medicare EHR Incentive Program / Meaningful Use; and cost replaces the Value-based Modifier.

 

What percentage of a MIPS score will this reporting category account for?
a) 50%
b) 60%
c) 75%
d) 90%

Correct answer: b) Quality counts for 60% of a physician’s score; advancing care information 25% and improvement activities 15%.

 

Let AdvancedMD answer your MACRA & MIPS questions and get your practice MACRA-ready. We actually have a dedicated team of MACRA consultants to help. 

Access these many AdvancedMD MACRA/MIPS resources:

What you need to know about MIPS for 2017 web page.
Preparing Your Practice for MACRA eGuide.
Simplifying MACRA with AdvancedMD webinar recording.
MACRA Survival Series: Essentials for the small practice eGuide.


Courtesy of Medical Economics, www.medicaleconomics.modernmedicine.com/medical-economics/news/how-well-do-you-understand-mips, June 5, 2017.


Topic: MACRA/MIPS


Other Resources Related to This Topic


MACRA/MIPS

2022 MIPS IA

Got a handle on your MIPS Improvement Activities (IA) categories for 2022? To help, we’ve...

MACRA/MIPS

MACRA Quality Guide 2022

Just because you are new to MACRA and MIPS doesn't mean you need to feel...

MACRA/MIPS

MIPS Attestation 2022

New users to QPP.CMS.GOV – Register now for a HARP Account If you have never...

“The money I have invested in AdvancedMD is miniscule compared to the return. I have never been more efficient – ever – in my professional life as I am now.”

Jed Shay, MD
The Pain Care Center

Read the story  ›

“[Our] patients are very well-educated and well-informed, and they want to see results quickly. The practice has to run extremely efficiently and be accessible to them. The nice thing about [AdvancedMD] is it has allowed me to be more efficient both in and out of the office. Now I don’t have to come back into the office, which is great for my family and everything else. It saves me a lot of time – probably an hour a day on the three days I work in the second office.”

Keith Berkowitz, MD
Center for Balanced Health

Read the story  ›

“The best thing I ever did in private practice was getting AdvancedMD—it has liberated me.”

Estaban Lavato, MD
La Loma Medical Center

“Having integrated practice management and EHR is absolutely wonderful, you don’t have to flip back and forth between systems—all of your information is at hand when needed.”

Raju Raval, MD

Read the story  ›