Medicare MIPS – 5 Things You Need to Do Now

On February 15, 2017, in Medicare, by MoneyTree

This is a very brief summary of the new Medicare MIPS System. Please call us if you have more detailed questions or concerns.

1. Chiropractors ARE required to participate ONLY if they meet one of the following criteria:

Medicare allowable charges for YOUR Tax ID Number are $30,000 or more
* Allowable Codes = 98940,98941,98942
OR
You treated 100 or more PATIENTS in a year (not visits)

2. You may Voluntarily Participate even if you are below the above thresholds. Your voluntary participation to many experts is a good idea because with the new MIPS system the government will be putting out each clinics MIPS score to the public. If the public sees a “0″ in your MIPS score and your neighbor has a higher score the public may gravitate towards the other chiropractic clinic. AND another expert point is that we MAY end up REQUIRED to participate in this MIPS system in 2018 so why not start now.

3. This is all based on straight MEDICARE statistics not Medicare Replacement plans.

4. If you choose NOT to participate in MIPS you can stop reporting your PQRS codes and your EHR data.

5. IF you DO want to voluntarily participate in MIPS or you are required to participate due to your high volume, one of the MIPS reporting systems is to use PQRS so DONT stop PQRS. Please contact Money Tree for further information IF you are going to participate in MIPS there is more you need to know.

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