MIPS 2023 Reporting in 6 Easy Steps: Where’re You Now?

Every year, the Merit-based Incentives Payment System brings a fresh opportunity for providers. Following the value-based care model, the program intends to achieve a high standard of quality care. So, MIPS 2023 reporting has started, and providers are demonstrating their commitment to quality. Accepting new challenges, they are all striving to secure themselves while targeting a maximum score.

Well, without further delay, let’s just roll into today’s blog. Today’s blog is a step-by-step guide to MIPS 2023 reporting for newbies. Whereas, for MIPS participants, it may act as a beam of light for directing them to what’s coming next.

Jumping into your go-to source for all steps of MIPS reporting in CY 2023!

MIPS 2023 Reporting: Check What Lies Ahead!

Don’t say that you are not curious about MIPS 2023 reporting. Being an MIPS-qualified registry, P3 Care is well-prepared to help you on the journey ahead. Following a series of advancements over time, MIPS has evolved to be the toughest. But fret not; we are always there by your side to ensure your success in the program. While MIPS is shaping up to be dynamic, let’s try to tackle it by being vigilant.

Gain insights from your MIPS journey in FY 2023. See what you have gone through in PY 2023 so far and which part of MIPS is still due. And, how you can strategically perform to get a favorable MIPS score in CY 2025.

Step 1: The Check Always Comes First

We don’t want you to miss out on MIPS 2023 for any reason. The first step we expect from any participant entering PY 2023 is to assess their ability. For this, take a few moments and enter your credentials in the eligibility check tool of the QPP. To ensure that you’re MIPS-ready for the year ahead, you will only need your NPI at this time. Once you enter it in the tool, you will get your status. You will simply get a confirmation of whether you’re eligible for MIPS as an individual or a group. Thus, you can state it as your preliminary eligibility for the MIPS program. Here are some situations you might face; see what they reflect:

Step 2: Have you chosen your MIPS Reporting Option?

Moving ahead, you will find out where you stand in reporting. If you are an old MIPS participant, you know that participants have had two reporting pathways in the past. Well, long before implementation, CMS announced the availability of a new reporting pathway. So, MIPS 2023 reporting makes participants choose among the three reporting pathways:

• Traditional MIPS (Original)
• MIPS Advanced APMs
• MIPS Value Pathways (Voluntary Reporting)

Apparently, choosing the third option seems easy at first glance due to the leisure opportunities offered by CMS. No doubt it is very simple, but clinicians have to consider other aspects as well. CMS simply wants to encourage clinicians to accept and adapt to the new pathway. Therefore, it asks clinicians to select this pathway and enjoy reporting only 12 MVPs. But don’t forget, this is the first reporting year for MVPs. We do not have sufficient instructions regarding score distribution and other aspects. So, choose this option if you are really prepared to take risks.

In contrast to this, we have something to say, favoring the selection of this reporting pathway. Look, CMS has clearly stated that it will replace traditional MIPS in the future and implement MIPS value pathways. Thus, familiarizing yourself with the new path from the beginning, when it offers fewer risks, can be a wise choice.

Step 3: What’s your Participation Choice?

This is the time to choose your level for MIPS 2023 reporting. It is somehow connected with your eligibility status. For instance, if you are not eligible for MIPS as an individual, you cannot pick this option. Anyhow, we have five reporting levels available for MIPS. Now, you have to choose accordingly if you want to be a part of MIPS 2023 reporting.

• Individual
• Group
• Virtual group (traditional MIPS only)
• APM entity (for MIPS APM participants only)
• Subgroup (for those reporting MVPs)

Step 4: Selection and Application of Measures and Activities

Generally, MIPS encloses four reporting categories. So, the clinicians have to pick measures and activities to score high in all of these categories.

Usually, the cost category is not evaluated under APP. However, in the MVP and traditional MIPS frameworks, CMS does not ask for data submission. Rather, it collects and reviews everything by itself. For the other three categories, CMS provides the following instructions:

Step 5: Entering the MIPS Data Submission Phase

It’s the essential step for all the MIPS participants: coming ahead. After data collection throughout the year, the participants have to finally submit it. Usually, Medicare claims are reported throughout the year. Participants have to submit data using any of the following options between January 2 and April 1, 2024:

• Submit yourself
• Third-party intermediary
  • Qualified Clinical Data Registry (QCDR); or
  • Qualified Registry

Conclusion

The route toward MIPS 2023 reporting calls for commitment and continuous improvement. Accept change, follow best practices, and improve patient care over the long term. As we conclude our discussion, keep in mind that your efforts will benefit your practice. While going forward in MIPS 2023, we hope you found this blog interesting and instructive. Maintain your leadership in healthcare. Here’s to a productive reporting year.