Merit-Based Incentive Payment System (MIPS) reporting—it’s a headache nearly every healthcare provider knows all too well.
In fact, according to the Medical Group Management Association’s 2023 Regulatory Burden Report, more than 67% of providers say it’s “very” or “extremely” burdensome.
What was initially created to streamline value-based care has now become a maze of complex requirements, leaving providers like you buried in hours of data collection, submission, and verification.
Keeping up with all the changes in performance measures can feel like an uphill battle, but it doesn’t have to be that way. With IMS, Meditab’s EHR platform integrated with MIPS management tools, you can turn a daunting process into a seamless experience.
When one asks the question, “What is MIPS?” Healthcare professionals often turn to the federal agency that implemented it: the Centers for Medicare & Medicaid Services (CMS).
MIPS in healthcare is a key part of CMS’s Quality Payment Program (QPP). It’s designed to reward or penalize healthcare providers based on the quality, cost, and effectiveness of the patient care they provide.
At its core, MIPS assesses providers across four performance categories:
Providers submit data in these areas, and their performance determines adjustments to their Medicare reimbursements.
Every year, CMS updates the MIPS requirements, further increasing the regulatory burden 90% of medical practices shoulder. For the performance year 2024, changes include increased thresholds for performance categories, expanded population health metrics, and a stronger focus on digital quality measures.
The critical challenge is collecting, analyzing, and submitting this data accurately and promptly. Fortunately, technology is evolving to help healthcare providers meet these demands.
IMS is designed with MIPS compliance in mind, offering built-in tools that simplify the reporting process. Here’s how its key MIPS features keep you on track:
With IMS, you don’t have to deal with manually entering and reviewing data. IMS combines cutting-edge technology with the expertise of our dedicated QPP team to deliver smooth, automated MIPS data capture and analysis.
Highly trained and experienced in IMS implementation, our QPP attestation experts thoroughly set up which measures you want to meet for each category, map your workflows, customize data capture settings, and automate your MIPS program reporting process.
One strategic approach to MIPS that healthcare providers can adopt is being proactive. IMS helps you do this by continuously tracking and monitoring your team’s performance all year round.
With a straightforward and intuitive MIPS dashboard built into the system, IMS ensures that you not only track required metrics but also improve your performance. By spotting potential issues and taking corrective action early on, you can boost your MIPS scores, avoid costly penalties, and maximize your Medicare reimbursements.
IMS comes fully equipped with a robust MIPS reporting module. This tool allows you to customize report templates, easily generate MIPS performance reports, regularly check your compliance status and current scores, and even view each provider’s MIPS performance in your clinic.
Starting with IMS Build 36, our MIPS module is up to date with the latest CMS specifications and requirements, enabling you to effortlessly generate the most current registry reports directly from IMS. Stay compliant and ahead of the curve with real-time, accurate reporting built right into your EHR platform!
To achieve peak practice performance in a value-based care environment, you’ll need more than powerful MIPS solutions—you’ll need unparalleled expert support, too. The good news is that you can get both with Meditab!
Besides offering 24/7 support for MIPS-related queries, our team of attestation specialists provides continuous guidance and assistance.
Throughout the entire reporting period, we:
Using an EHR platform equipped for MIPS compliance offers more than operational convenience; it helps drive your practice toward financial success. By maximizing your MIPS score, you can significantly boost your Medicare reimbursements. Practices that invest in MIPS-ready technology like IMS can benefit from the following:
"Working with the IMS team on MIPS has made the entire process so much easier. They take the stress out of a process that could otherwise be extremely stressful."
Janice G, Practice Administrator
Hollywood Ophthalmology Associates (HOA)
When your practice excels in MIPS compliance, everyone wins. By investing in an award-winning EHR system fully equipped with MIPS management tools, you can turn the complexities of MIPS into an opportunity for growth!
IMS helps you simplify MIPS compliance so you can deliver higher-quality care, increase patient satisfaction, and secure maximum reimbursements. The result? Healthier and happier patients, higher revenue, and a more profitable future.
Ready to take the first step? Schedule a free IMS demo with one of our MIPS specialists today!
Meditab is an EMR software company and practice management system. We offer leading multispecialty EHR software solutions designed by providers to meet the unique needs of your practice.
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