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What is the Return on Investment for MIPS consulting services?

12 Apr

What is the Return on Investment for MIPS consulting services?

What is the Return on Investment for MIPS consulting services?

MIPS stands for Merit-based Incentive Payment System, a compliance program developed by the Centers for Medicare & Medicaid Services (CMS). The MIPS program incentivizes and rewards eligible clinicians who provide high-quality, cost-effective care to their patients. Clinicians who are required to report for MIPS will need to submit certain performance measures related to quality, cost, improvement activities, and promoting interoperability. Based on their performance, eligible clinicians will receive a negative or positive payment adjustment to their Medicare reimbursements.

Considering the potential financial effects of receiving a MIPS penalty, it is beneficial for organizations with MIPS-eligible clinicians to partner with an experienced MIPS consultant who can assist in effectively navigating the significantly heightened MIPS requirements.

Explore various ROIs involved in MIPS Consulting Services.

MIPS consulting services can be particularly valuable for small practices, organizations with limited resources, and clinicians who may need to gain experience with quality reporting or performance improvement programs. Working with a MIPS consultant can help maximize performance in order to receive the highest possible payment adjustments under the MIPS program. A goal of CMS is to move the healthcare industry towards value-based care by rewarding clinicians who provide high-quality care and improve patient outcomes.

  • Stakeholder to Build Awareness: We provide comprehensive services that include educating staff and other stakeholders on the MIPS process. By understanding what is at stake and the requirements for achieving exceptional performance, organization members can work together more efficiently and effectively, resulting in a higher likelihood of exceeding the MIPS passing score.
  • Improve the Quality of Service: Our team will aid you in choosing the most suitable data collection type and measures for the Quality category that align with your organization’s patient population and scope of practice. MIPS reporting can be challenging in the initial stages, but we are here to help make it easier for you.
  • Manage Reporting for Multiple Locations: Our team of MIPS experts can assist you in tackling the distinct challenges that arise when managing multiple locations spread across a city or state. We leverage advanced MIPS analytics to help you identify the most effective MIPS approach for each location.
  • Audits of MIPS Submissions: While audits are conducted randomly by CMS, having appropriate documents readily available during an audit can expedite and simplify the process. MIPS submission audits can occur anytime, from immediately after submission to several years later. It is imperative that the appropriate documents are maintained for up to 7 years. For feedback purposes, our MIPS consultants can also conduct an internal audit of a random sampling of patients to make sure the visit documentation is up to par with CMS expectations.

Do you really need MIPS?

MIPS consultants can provide valuable guidance and support and help to navigate the complex and continually evolving MIPS program. For specialty providers or organizations with limited staff and resources, hiring a MIPS consultant may prove especially advantageous. The consultant’s expertise would aid in identifying relevant and applicable measures that might fit within the office workflow. Furthermore, every year CMS enacts changes to the MIPS program and keeping on top of those changes is critical to staying in compliance. Our MIPS consultants regularly engage with CMS, registries, EHR’s, and clients to ensure a smooth reporting process.

Get dedicated MIPS for hassle-free services today!

At TriumpHealth, our consultants remain informed about the most recent CMS regulations, and we help your healthcare organization to meet MIPS objectives effectively. A TriumpHealth consultant can guide you by navigating the ever-increasing challenges of the MIPS program. Our professionals will collaborate with you to handle the tasks of planning, data analysis, course corrections, and data submission. As the MIPS program becomes more challenging year after year, the risk of reimbursement penalties increases. Collaborating with a consultant knowledgeable about the MIPS terrain while using the best available tools can help to maximize your incentives for current and future years.

Do you need assistance with MIPS consulting at an affordable price? You can take the trustworthy services of TriumpHealth, known for delivering quality services for years in the industry. Give us a call today at 888-747-3836 x0 or by emailing sales@triumphealth.com!