APS reported to the 2017 MIPS (Merit-Based Incentive Payment System) program on behalf of approximately 700 clinicians and we’re happy to report that all met, or exceeded, the program requirements to avoid a negative payment adjustment in its inaugural year. As a result of the data-mining capabilities of our contracted MIPS qualified registry, many of our clients earned a perfect score of 100%, earning them the top positive payment adjustment available for the performance year.
Unfortunately after the original results were posted, CMS identified and corrected flawed scoring formulas in its system for 3 elements of the program. Consequently, results were recalculated and many providers experienced a drop in their positive payment adjustments. Updated results were posted September 13, 2018, for those impacted. Please visit the APS Medical Billing website to review our white paper, Your 2017 MIPS Payment Adjustment May have Changed Due to CMS’s Recent Recalculations, for additional details of the issue.
We anticipate additional bumps in the road as the MIPS program evolves and will continue to work diligently with our clients and the registry to ensure we have all bases covered to report the required data at optimal levels for the current performance year. If you have questions on how your MIPS score or bonus was affected by this change, please contact your Practice Manager.
Since our seamless transition to APS one year ago, we have significantly increased our monthly collections, decreased the delay in processing claims, and less time is spent in accounts receivable.