The Centres for Medicare and Medicaid Services (CMS) has announced the results of 2018, Year 2 under the Merit-based Incentive Payment System (MIPS). Bottom line: The total number of clinicians participating declined from 1.06 million to 916,058. However, the success rate of participants was higher with 97.6% earning an upward payment adjustment on their Medicare Part B claims … [Read more...] about MIPS bonuses are easy to earn—IF you can get into the program
Increasing profits
Deadline to submit a MIPS Targeted Review Request is this month
If you participated in the Merit-based Incentive Payment System (MIPS) in 2018, your performance feedback, which includes your MIPS final score and payment adjustment factor(s), are now available for review on the Quality Payment Program website. The MIPS payment adjustment you will receive in 2020 is based on your final score. A positive, negative, or neutral payment … [Read more...] about Deadline to submit a MIPS Targeted Review Request is this month
Why you need an office policy on collecting fees
Most medical practices take time once a year to create new office goals or a business plan and, hopefully, to upgrade their policy manuals. And consideration of collecting on co-pays and deductibles needs to be an integral part of that business plan, according to Michael Glass, a medical consultant with Transworld Systems Inc. (TSI). Why bother with an office policy? The … [Read more...] about Why you need an office policy on collecting fees
7 reasons to consider a physician partnership
By Nick Hernandez bio Physician partnerships are often a great idea providing you give thought to how you will structure one and why you wish to create a partnership. Sometimes physician partnerships aren't so successful—so it is crucial to choose your partner well. This is somebody who you're going to spend a lot of time with and who, like your spouse and your family, will … [Read more...] about 7 reasons to consider a physician partnership
Social media is a double win for your medical practice and your career
Digital media specialist Brittney Overstreet says social media has given word-of-mouth marketing—the oldest marketing tool—unanticipated strength that can dramatically boost your medical practice or effortlessly destroy it if you don't know how to manage it. Social media, defined as the online method for sharing information with an audience, is used by many patients to … [Read more...] about Social media is a double win for your medical practice and your career
5 purchasing tips that can save money for your medical practice
Cutting purchasing costs doesn't have to be difficult. Here are five approaches to purchasing your medical practice should consider. 1 Join other offices and take advantage of group discounts. Because the group represents a lot of business, it can tell a vendor it will use it exclusively in exchange for an overall, sizeable discount. The group can also get individual … [Read more...] about 5 purchasing tips that can save money for your medical practice
2017 QPP performance information is now available on Physician Compare
CMS has added new performance information to the Physician Compare website. Medicare patients and caregivers are able to use the Physician Compare website to search for and compare clinicians and groups who are enrolled in Medicare, as shown in this patient story video. The overarching goals of Physician Compare are, 1) to help people with Medicare make informed health care … [Read more...] about 2017 QPP performance information is now available on Physician Compare
What you need to consider before getting started in telemedicine
By Nick Hernandez bio Many practices are hearing about telemedicine and becoming increasingly interested in how such a program could be implemented in their operations. Physicians want to start a telemedicine program quickly. Practice managers don't want to learn by trial and error. The biggest issue I see by far is that practices immediately focus on the technology. … [Read more...] about What you need to consider before getting started in telemedicine
CMS releases preliminary data on 2018 Quality Payment Program participation
The Centers for Medicare & Medicaid Services (CMS) has published a blog post and released an infographic to share preliminary participation data for the Quality Payment Program during 2018. Key findings include: Overall, MIPS participation rates increased between 2017 and 2018 from 95 percent to 98 percent, respectively. Small practices participation increased … [Read more...] about CMS releases preliminary data on 2018 Quality Payment Program participation
How telehealth can transform your medical practice
Telehealth— the practice of providing a range of healthcare services remotely, as opposed to face-to-face— is revolutionizing the practice of medicine. Adopting it can help you substantially grow your medical practice, according to Nick Hernandez, founder and CEO of ABISA, a consultancy specializing in strategic healthcare initiatives. "I have been helping … [Read more...] about How telehealth can transform your medical practice