• Utilize Our Premium Medical Credentialing Services
• Obtain Provider Privileges with Insurance Payers
• Ensure Compliance and Efficiency
• Experience a Seamless Payer Enrollment Process
• Accelerate Your Claims Submission
• Improve Revenue Cycle Efficiency
• Receive Customized Medical Billing Services
• Designed Specifically for Healthcare Providers
• Ensure Accurate Claims Submission and Timely Reimbursements
• Benefit from Accurate Medical Coding Services
• Combined with Advanced Software
• Effectively Manage Claim Denials
• Maximize Your Revenue
• Achieve Optimal Revenue Cycle Management
• Meticulous Oversight of Encounters and Reimbursements
• Regular Clearinghouse Reviews Every 48 Hours
• Facilitate Prompt Resubmissions and Timely Collections
• Uncover Potential Revenue Leaks
• Optimize Your Financial Performance
• In-Depth Medical Auditing and Analytics Services
• Streamline Patient Appointment Management
• Enhance Billing Transparency
• Securely Access Patient Medical Records
• Cost-Effective EHR and Practice Management Solutions
• Schedule Your Free Demo Today
• Explore How Our Medical Billing Solutions
• Can Elevate Your Healthcare Practice
• Call Us 833-623-7355
If you are a healthcare provider, you have probably heard of MACRA and MIPS. MIPS (Merit-based Incentive Payment System) is a system that helps determine a performance score for clinicians and healthcare providers. This system was created to increase accountability and will be used to give monetary rewards or penalties to eligible providers based on quality of care. The performance measures used to determine the MIPS performance score are outlined by MACRA (The Medicare Access and CHIP Reauthorization Act of 2015), a program that determines how quality care can be measured. If your healthcare organization bills for Medicare Part B and accepts more than $90,000 of Medicare money per each year from retirees and disabled patients, it is subject to MIPS. Together, MACRA and MIPS incentivize value and quality of healthcare over volume and quantity. Here is a guide to understanding MACRA and MIPs and what these new policies might mean for you and the members of your healthcare organization.
MIPS
The Merit-based Incentive Payment System works under the Quality Payment Program of the Centers for Medicare and Medicaid Services (CMS) to measure the performance of a clinician, and is the largest value based care payment program. MIPS is a huge step toward making sure clients pay for the quality of care they receive rather than just for receiving the service itself. MIPS adjusts the payment a provider or clinician receives based on their performance score out of a possible 100. This score is compiled based on four categories: quality, promoting interoperability, improvement activities, and cost.
MACRA
MACRA helps determine how the quality category of the MIPS performance score is decided. Under MACRA, providers with high quality of care will be rewarded while those with low quality of care are penalized. This program requires for 60% of a provider’s MIPS performance score (60 points) to be comprised of quality and cost, and uses data from providers to report quality through data reports. This will hold doctors responsible for providing good care and increase data sharing.
Preparing for MACRA and MIPS
These changes and their financial benefits and consequences are inevitable, so your healthcare organization needs to prepare for MACRA and MIPS. Starting in 2019, the MIPS performance score will determine payment for Medicare Part B clinicians. Prior to their full implementation, become familiar with the different ways in which your performance will be measured, and figure out ways to improve. This will help you avoid payment reductions in 2019 and beyond.
These programs will bring about increased accountability and transparency. If you are a doctor that owns your own practice, it is more important than ever for you to make sure you are managing the financial aspects of your business properly. Be careful with your payments and billing, and consider hiring a medical billing organization to help you take care of the financial and business side of your operations. This way you can focus on your day-to-day duties providing great healthcare without worrying about mismanaging finances and ensure that payment errors do not cut into your cash flow.
Consult Madrelle for help with your healthcare organizations’ reporting, billing, and claims reimbursement.
Amanda Raveaux, CPC, CPB, CPPM, CFPC, CH-CBS is a Medical Billing and Coding Supervisor, and has been in the billing and coding arena for 17 years. She has received her training from The American Academy of Professional Coders, and holds multiple certifications, as well as achieving certification for Community Health billing.
© 2024 Madrelle. All rights reserved. | Powered by Technoholic Advance Solutions
• Utilize Our Premium Medical Credentialing Services
• Obtain Provider Privileges with Insurance Payers
• Ensure Compliance and Efficiency
• Experience a Seamless Payer Enrollment Process
• Accelerate Your Claims Submission
• Improve Revenue Cycle Efficiency
• Receive Customized Medical Billing Services
• Designed Specifically for Healthcare Providers
• Ensure Accurate Claims Submission and Timely Reimbursements
• Benefit from Accurate Medical Coding Services
• Combined with Advanced Software
• Effectively Manage Claim Denials
• Maximize Your Revenue
• Achieve Optimal Revenue Cycle Management
• Meticulous Oversight of Encounters and Reimbursements
• Regular Clearinghouse Reviews Every 48 Hours
• Facilitate Prompt Resubmissions and Timely Collections
• Uncover Potential Revenue Leaks
• Optimize Your Financial Performance
• In-Depth Medical Auditing and Analytics Services
• Streamline Patient Appointment Management
• Enhance Billing Transparency
• Securely Access Patient Medical Records
• Cost-Effective EHR and Practice Management Solutions
• Schedule Your Free Demo Today
• Explore How Our Medical Billing Solutions
• Can Elevate Your Healthcare Practice
• Call Us 833-623-7355
Effective Date:
At Madrelle Practice Medicine (“we,” “our,” or “us”), we are dedicated to safeguarding your personal information. This Privacy Policy explains how we collect, use, disclose, and protect your information when you visit our website https://madrelle.com/ and any associated landing pages (collectively, the “Site”). By accessing the Site, you consent to the practices described in this policy.
1. Information We Collect
We may collect personal information from you in various ways, including when you:
– Visit our Site
– Fill out forms
– Subscribe to our newsletter
– Communicate with us via email or phone
The types of personal information we may collect include, but are not limited to:
– Name
– Email address
– Phone number
– Address
– Insurance information
– Payment information
2. How We Use Your Information
We may use the information we collect for various purposes, including to:
– Process and manage billing and payment transactions
– Provide customer support and respond to inquiries
– Improve our Site and services
– Send periodic emails regarding your services or other products
– Comply with legal obligations and protect our rights
3. Disclosure of Your Information
We do not sell, trade, or otherwise transfer your personal information to outside parties without your consent, except in the following circumstances:
– To third-party service providers who assist us in operating our Site, conducting our business, or servicing you, so long as those parties agree to keep this information confidential.
– When we believe release is appropriate to comply with the law, enforce our Site policies, or protect ours or others’ rights, property, or safety.
4. Data Security
We implement a variety of security measures to maintain the safety of your personal information. However, please be aware that no method of transmission over the Internet or method of electronic storage is 100% secure. While we strive to use commercially acceptable means to protect your personal information, we cannot guarantee its absolute security.
5. Your Rights
Depending on your location, you may have the following rights concerning your personal information:
– The right to access your personal information
– The right to request correction of inaccurate information
– The right to request deletion of your personal information
– The right to object to processing
To exercise any of these rights, please contact us using the information provided below.
6. Third-Party Links
Our Site may contain links to third-party websites. We do not control these websites and are not responsible for their content or privacy policies. We encourage you to review the privacy policies of any third-party sites you visit.
7. Changes to This Privacy Policy
We may update this Privacy Policy from time to time. We will notify you of any changes by posting the new policy on our Site with a revised effective date. We encourage you to review this policy periodically to stay informed about how we are protecting your information.
8. Contact Us
If you have any questions about this Privacy Policy, please contact us at:
Madrelle Practice Medicine
6586 Hypoluxo Rd. #268
Lake Worth, FL 33467
*By using our Site, you consent to our Privacy Policy and agree to its terms.
Thank you for trusting Madrelle – Medical Billing Service with your medical billing needs.
*SMS Consent or phone numbers are not shared for the purpose of SMS with third parties or affiliates.
*SMS OPT-IN OR PHONE NUMBERS FOR THE PURPOSE OF SMS ARE NOT BEING SHARED.