03/07/2024

MIPS Penalties for Discontinuation and MIPS Bonuses

What or how much are the penalties going forward for discontinuing doing (not reporting it to Medicare) Mips even though there is a requirement to do so? Also If Mips reporting year is 2023 and Mips values are reported to Medicare would a bonus be received 2 years later in 2025? How much are the bonuses?

For the 2023 reporting year (impacting Medicare payments/adjustments in 2025), the incentives or penalties are based on a sliding scale. For partial non-compliance, the penalty will be between 0-9% of the Medicare part B receivables. If a provider does not submit any information for MIPS, they will be subject to the maximum 9% penalty for their Medicare part B payments. For high performing providers, there will be a bonus, but the percentage that would be added to the part B allowed amount is not known at this time.