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What is the Return on Investment for MIPS consulting services?

MIPS2023
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, which is a compliance program from CMS. Moreover, the MIPS program rewards clinicians for providing high-quality, cost-effective care. To comply, clinicians must submit performance measures on quality, cost, improvement activities, and interoperability. Consequently, eligible clinicians receive a negative or positive adjustment to their Medicare reimbursements based on their performance.

Considering the potential financial effects of receiving an 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.

MIPS2023

Explore the ROI for MIPS in Consulting Services

MIPS consulting services can be especially valuable for small practices and organizations with limited resources. In particular, clinicians lacking experience with quality reporting or performance programs can benefit from consulting services. By working with an MIPS consultant, clinicians can maximize performance and receive the highest possible payment adjustments. Furthermore, CMS promotes value-based care by rewarding high-quality care and improved patient outcomes.

  • Stakeholder to Build Awareness: We provide comprehensive services, including educating staff and other stakeholders on the MIPS process. By understanding what is at stake and the requirements for achieving exceptional performance, members collaborate for better MIPS scores.
  • Improve the Quality of Service: We’ll help you choose the right data collection type and measures for quality assessment. MIPS reporting can be challenging initially, but we are here to help make it easier for you.
  • Manage Reporting for Multiple Locations: Our MIPS experts can help manage challenges with multiple city or state locations. We leverage advanced MIPS analytics to help you identify each location’s most effective MIPS approach.
  • Audits of MIPS Submissions: While audits are conducted randomly by CMS, having documents ready can speed up the audit process. MIPS submission audits can occur anytime, from immediately after submission to several years later. The appropriate documents must be maintained for up to 7 years. For feedback purposes, our MIPS consultants conduct internal audits of patient samples to ensure CMS-compliant visit documentation.

Do you really need MIPS?

MIPS consultants can provide valuable guidance and support and help to navigate the complex and continually evolving MIPS program. Hiring an MIPS consultant may prove especially advantageous for specialty providers or organizations with limited staff and resources. 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 compliant. Our MIPS consultants regularly engage with CMS, registries, EHRs, and clients to ensure a smooth reporting process.

Get dedicated MIPS for hassle-free services today!

At TriumpHealth, we keep up with CMS regulations and assist your organization in meeting MIPS objectives. 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. Collaborate with a knowledgeable consultant and use the best tools to maximize MIPS incentives.

Do you need assistance with MIPS consulting at an affordable price? Consider TriumpHealth for reliable and quality services in the industry. Give us a call today at 888-747-3836 x0 or by emailing sales@triumphealth.com!