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Any bonus or penalty for your 2023 reporting period will be reflected in your 2024 Medicare Payments.
For the 2023 performance year / 2025 payment year of the Merit-based Incentive Payment System (MIPS), CMS released the following final scores and payment adjustments:
- Mean MIPS Final Score: 82.91 points, corresponding to a 0.56% payment adjustment.
- Median MIPS Final Score: 85.49 points, with a 0.90% payment adjustment.
- Maximum Payment Adjustment: 2.15% for those with a final score of 100 points.
Looking at this with real world numbers, if your composite MPIS score was 82.91 and you expect to bill Medicare $150,000, you are expected to have a total bonus payment of $840. If your composite MIPS score was 85.49 and you expect to bill Medicare $150,000, you are expected to have a total bonus payment of $1,350. If your composite MIPS score was 100 (perfect) and you expect to bill Medicare $150,000 you are expected to have a total bonus payment of $3,225.
If your MIPS score is 18.75 or less and you expect to bill Medicare $150,000 you are expected to be looking at a penalty of $13,500.
According to CMS these numbers are similar to the bonuses for the 2022 reporting period.
To find out your 2023 score and your expected bonus / penalty please visit the QPP website at https://qpp.cms.gov and hit the login button on the top right.
Click “Performance Feedback” from the left-hand menu.
Click the carat next to “Download Data” and click “Payment Adjustment CSV”.
For more information about MIPS and to get assistance in optimizing your 2024 MIPS score contact Registry Clearinghouse at:
Web : https://www.registryclearinghouse.com
Email: [email protected]
Phone (631) 996 9222
