How well do you understand MIPS?
MACRA, the law that changes how the government pays physicians for Medicare services, took effect at the start of 2017. The law establishes two payment “tracks” for physicians, the Advanced Alternative Payment Model (APM) and the Merit-based Incentive Payment System (MIPS).
Most smaller and independent medical practices probably will choose the MIPS track. Starting this year, those 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. Practices that report their data have the possibility of earning a financial bonus.