In parts 1 and 2 of this series, we detailed how to earn money from MIPS by increasing your score with bonus points. CMS has given many different methods to earn bonus points across all categories. In part 3 of this series, we will continue with three more ways to help you earn more money.
Earning Bonus Points:
To date, we have learned the following methods to earn bonus points:
- Reporting with CEHRT
- Reporting more than one high-priority measure
- Keeping 15 or fewer providers in your group
- Reporting to more than one public health registry
- Using CEHRT for at least one of the Improvement Activities
- Using only the 2015 edition of CEHRT
Now, in Part 3, you will learn to earn money with MIPS with:
- Complex Patient Bonus
- Earning a final score above 70
- Choosing to report for MIPS period
Complex Patient Bonus
Based on the medical complexity of the patient you are seeing, you can earn bonus points. By taking the average HCC risk score and applying it to your final score, you can earn up to three bonus points. By increasing the ratio of complex patients to patients who are not, you introduce the opportunity to earn more bonus points, increasing your score, and increasing the amount you earn from MIPS.
Scoring Above 70 to Qualify for Bonus:
While the performance threshold is 15 points in 2018, you can earn even more points for keeping your score above 70. A total performance score of 70 points or higher makes you eligible to earn an extra bonus payment. Ultimately, this is based on where you rank when compared to other top performers.
Participating in MIPS
Choosing not to take part in MIPS in 2018 will hurt you. Those who take part can earn up to a 5% upward payment adjustment. However, if you choose not to take part, you will receive a negative payment adjustment of 5%. This is a significant amount for providers who treat a large Medicare population.
Make money from MIPS
We discussed before that to make money from MIPS, bonus points are important. The points you receive will better your chances of ranking in the top 25%. Participants who rank in the top 25% are eligible to earn up to a 10% bonus payment. Where they are in the top 25% will be the determining factor for how much they ultimately earn. Make sure to identify and track each area that your practice can earn bonus points to better your chances.