BC Advantage - 2021 Issue 9

MIPS - What Practices Need to Know to Avoid Financial Penalties

By law, CMS is required to structure the MIPS program such that 1 out of 2 clinicians will be penalized each year. Non-compliance, submitting inaccurate or incomplete data, or failing to meet the points threshold and category requirements will result in significant financial penalties and a reduction in a practice's Medicare reimbursements. To be specific, failure to comply or earn enough points for the 2021 MIPS reporting period will result in an automatic 9% penalty – this equates to a reduction of $9,000 for every $100,000 billed to Medicare, a risk that most practices can't afford to...

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