According to CMS, a small practice is defined as having 15 or fewer clinicians. These practices often provide personalized care that larger institutions can sometimes struggle to deliver. Even with this personalization and dedication, however, understanding the intricacies of MIPS can be difficult.

At Quantician, we understand the challenges small practices face in working towards meeting MIPS reporting guidelines set by CMS. With the 2024 performance year here, it is crucial for small practices to understand each guideline and optimize scores before it is too late.

Continue reading to learn of the key insights for small practice MIPS reporting:

The Impact of Benchmarks When submitting quality measures, small practices must pay close attention to benchmarks. If a benchmark isn't available for a specific quality measure, CMS ensures a minimum of 3 points will be awarded. Additionally, data accumulated by CMS throughout the reporting period may lead to the establishment of benchmarks that have the potential to increase your score.

Measure Requirements Submitting quality measures that meet all requirements is critical. Measures falling short on case minimums or data completeness criteria will almost certainly lead to a poor Quality category performance. Attention to detail here can make a significant difference in your MIPS score.

The Bonus Point Advantage Small practices can get ahead by taking advantage of bonus point opportunities. Submitting at least one quality measure earns your practice an additional 6 bonus points, contributing to an improved MIPS score overall.

Reporting on Promoting Interoperability (PI) Though reporting data for the PI category isn't obligatory for small practices, it's a strategic move that can impact category weights and overall scores. Opting to report in this category could have a positive outcome, especially given that PI is 180 consecutive days in 2024.

Preparing for the Cost Performance Category Small practices must prepare for the Cost performance category. This score is automatically determined based on submitted Medicare Part B claims data by the practice. Ensuring accuracy in claims submissions is vital, as it directly influences your MIPS score.

Small Practice Category Weights

• Quality: 40% of MIPS Score
• Cost: 30% of MIPS Score
• Improvement Activities: 30% of MIPS Score
• Promoting Interoperability (PI): 0% of MIPS Score

Note: The Promoting Interoperability (PI) category is automatically reweighted.

As small practices aim to understand the complexities of MIPS reporting, Quantician is here to help. To discover how Quantician can support your practice in achieving MIPS success, schedule a demo with us today.