JUL 05, 2018
Are You Getting a MIPS Bonus? Year 1 Scores Now Available
Physicians can now see their Merit-Based Incentive Payment System scores for the 2017 performance year. The Centers for Medicare & Medicaid Services is making this information available via its Quality Payment Program data submission website. Your score will indicate whether you are to receive a negative, neutral or positive MIPS payment adjustment in 2019. It also allows you to start the appeals process, if necessary.
This is the first opportunity for results since CMS launched its new fee-for-service pathway, a segment of its Quality Payment Program. The Academy worked to ensure first-year flexibility for our members to ensure a smooth transition to the new system. Our advocacy resulted in Medicare’s “pick your pace” initiative to minimize the number of requirements needed to pass.
The Academy has determined that participants in the Academy’s IRIS Registry experienced significant success. Many of our profession’s top performers for 2017 participate in ophthalmology’s registry.
At the time of publication, the 2019 conversion factor remains unknown; this will affect your ultimate payment. However, the Academy estimates that the bonus for passing could be 2 percent of your Medicare revenue. The penalty for failing could be 4 percent.
CMS estimates that ophthalmology will take the biggest piece of the MIPS bonus pool for this year’s reporting. The number of ophthalmologists earning bonuses is a testament to the value of the Academy’s IRIS® Registry. Ophthalmology’s registry enables our profession’s MIPS reporting success by allowing you to monitor your quality scores to meet CMS benchmarks.