The CMS has recently reopened the MIPS Extreme & Uncontrollable Circumstances (EUC) application for groups, virtual groups, and Alternative Payment Model (APM) Entities. Please keep reading to learn how this program may benefit the financial well-being of your practice.
Merit-based Incentive Payment System (MIPS) is a compulsory quality payment and incentive program (QPP) for Medicare-participating providers. It is an annual evaluation campaign that you are obliged to sign up for if you qualify.
How does it work?
MIPS is all about making sure that your practice is on the same page with the contemporary quality measurements and rewarding you for it if you are. Since this is an annual program, MIPS evaluates your services performed within 1 calendar year. Four aspects are considered upon participation:
• Quality
• Cost
• Improvement Activities
• Promoting Interoperability
Why is it so important?
Participation in MIPS helps you to ensure that you provide top-quality services to your patients, while also doing your best to document it. Besides, an incentive can be quite beneficial in these extraordinary times.
How do I know if I am obliged to participate?
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