There are four crucial things our customers learn about managing the Merit-based Incentive Payment System(MIPS), specifically, how to spend your time, effort and resources managing MIPS more effectively. Let’s share the journey about what Susan, the administrator of a busy private multi-specialty ophthalmology practice with 7 doctors, learned.
1. Don’t Spend Too Much
Susan learned she spent too much, more often than not, wasting valuable practice resources that should have been spent on tasks which generate revenue and help provide excellent patient care. She was wasting time and resources trying to manage MIPS at the expense of other more critical tasks.
2. Don’t Spend Too Little
Susan learned she spent too little, at times, hoping MIPS would take care of itself in the end. She also assumed that their MIPS data from their EHR and Registry was correct and accurate. When problems or discrepancies arose, and they will, they were unprepared to deal with them.
3. Don’t Try To Be An Expert
Susan learned she spent too much of herself trying to become a ‘MIPS expert.’ She learned that becoming a ‘MIPS expert’ was somewhat of a fallacy and very costly in terms of time and money.
4. You Don’t Know What You Don’t Know
It was humbling for Susan to learn that she didn’t know what she didn’t know. She learned that she needed to have a MIPS plan and to allocate her resources to the MIPS tasks that matter the most, tasks that work within her specific practice workflow and specialty. Having turned over the reins on the details of MIPS, she can now focus on managing the entire practice more effectively. She also learned that doing the right things at the right time was key.
The purpose of this blog is to help practices understand what they are up against with MIPS and related topics, and spend right on MIPS. Less can be more in some situations, but if you are not careful too little can end up costing too much in the end.