What is MIPS?
The Merit-Based Incentive Payment System (MIPS) will have it's first performance year starting on January 1, 2017. This means your practice will begin a 2 year performance test measuring your practice's eligible professionals (EPs) and giving them a “MIPS score” between 0 and 100. Going forward from 2019 this impacts an individual provider’s Medicare reimbursement by increasing reimbursement by 27% or decreasing it by 9%. About 90% of Eligible Professionals (EPs) will qualify of the MIPS track and APMs are still in experimentation.
MIPS ties in previous initiatives (MU,PQRS,VBM) into weighted categories to provide this score :