Within the Quality Payment Program
, there are 2 paths providers can choose and use to report quality data:
The Merit-Based Incentive Payment System (MIPS) is the program that will determine Medicare payment adjustments. Using a composite performance score, eligible clinicians (ECs) may receive a payment bonus, a payment penalty, or no payment adjustment.
MIPS streamlines 3 currently independent programs to work as one:
- Electronic Health Record Incentive Program/Meaningful Use (MU)
- Physician Quality Reporting System (PQRS)
- Value-Based Modifier (VBM)
MIPS also adds a fourth component, Improvement Activities (IA), to promote ongoing improvement and innovation. This new program will ease clinician burden and allow clinicians to choose the activities and measures that are most meaningful to their practice to demonstrate performance.
Who is eligible for MIPS?