Welcome, healthcare providers! The CMS has officially unveiled the MIPS 2024 final rule. In this blog, we’ll delve into the approved policies that are set to impact your PY 2024 reporting. As we navigate through these changes, it is imperative for clinicians to stay informed and adapt swiftly to excel in the ever-evolving healthcare landscape.
The MIPS program has consistently evolved within the Quality Payment Program of CMS. With each passing performance year, the federal government has introduced constructive changes. These changes have been driven by a multitude of factors, with the implementation of value-based care being a primary motivator. CMS has continuously strived to address various aspects progressively, aligning with their commitment to enhancing the healthcare system.
However, the healthcare industry faced a significant challenge in the form of the COVID-19 pandemic. Healthcare providers tirelessly dedicated themselves to delivering exceptional patient care during this crisis. To alleviate the burden on healthcare professionals, CMS introduced some temporary relaxations.
As we stand today, the healthcare industry has triumphed over the COVID crisis. Consequently, CMS has decided to return to the original track of MIPS reporting for CY 2024. The PFS final rule has been formulated to ensure policy continuity and to prioritize digital measurement and interoperability. Additionally, CMS is placing a strong emphasis on the development of MIPS Value Pathways (MVPs) to further streamline reporting.
Let’s explore the key policies that have been approved for MIPS reporting in the final rule. These policies are poised to shape the landscape for PY 2024 reporting:
MIPS Value Pathways (MVPs), which were initially a voluntary reporting option in MIPS 2023, are now becoming a cornerstone of future reporting. The MIPS 2024 final rule introduces five new MVPs for healthcare providers, alongside certain modifications. In total, there are 16 MVPs available for PY 2024 reporting.
- Enhancing Rehabilitative Support for Musculoskeletal Care
- Ensuring Quality Care for the Treatment of Ear, Nose, and Throat Disorders
- Elevating Quality Care in Mental Health and Substance Use Disorders
- Strengthening Prevention and Treatment of Infectious Disorders, Including Hepatitis C and HIV
- Prioritizing Women’s Health
- Advancing Care in Lower Extremity Joint Repair
- Catering to Individuals with Intermittent Neurological Disorders
- Enhancing Supportive Care for Neurodegenerative Diseases
- Adopting Best Practices in Emergency Medicine to Promote Patient Safety
- Improving Oncology Care
- Advancing Cardiovascular Disease Care
- Elevating Patient Care in Rheumatology
- Coordinating Stroke Care to Promote Prevention and Positive Outcomes
- Providing Top-tier Kidney Health Care
- Prioritizing Patient Safety and Promoting Positive Anesthesia Experiences
- Upholding Primary Care Value
For the PI Performance Category, clinicians will have a 180-day performance period. This policy change aligns seamlessly with CMS’s overarching plan for growth and the Medicare PI Program.
CMS has given the green light for the collection of Medicare Clinical Quality Measures (CQMs) by ACOs participating in the MSSP. This specifically pertains to the Medicare CQMs collection type and applies to ACOs that meet the reporting requirements within the APM Performance Pathway of the Shared Savings Program.
Let’s now turn our attention to the policies that have not yet received CMS’s approval and remain pending:
Contrary to expectations, the performance threshold for MIPS reporting remains at 75 points in the PY 2024 final rule. Clinicians who score below this threshold will face penalties.
No changes have been made to the data completeness requirements. The decision to increase the data completeness threshold for 2027 is still pending CMS’s approval.
CMS has maintained its stance on QP determinations, conducting them at the APM entity level, as was the practice in previous years. There has been no confirmation regarding individual clinician-level determinations.
That concludes our exploration of the MIPS 2024 final rule. We hope this comprehensive fact sheet proves invaluable as you navigate the challenges of MIPS reporting in the coming year. It’s the perfect time to reevaluate your reporting strategies and seek assistance from MIPS-qualified registries like us to enhance your MIPS performance. With our MIPS consulting services, you can address your shortcomings and optimize your performance in MIPS. Prepare for the future with confidence and adaptability!