Our MIPS Assistance Programs are designed to help our clients transform their practices from one that is currently based on volume, to one that is based on value. STI wants to help you to maintain your independent practice status and meet the MIPS requirements. It has been said that most practices will need assistance from their EHR vendor to meet the goals of this program.
MIPS is a budget neutral program because the plan is to reduce the reimbursement of many physicians to provide incentive payments to those that comply. Our guess is that early on it will be easier to earn a positive payment adjustment (incentive) because many physicians do not even know that the program exists, and many will not understand how to comply because of the complexity of the program. So those who participate early have a better chance of making the positive payment adjustments. Plus the program has a two-year lag period between reporting and incentive/penalties, so many physicians will incur the penalties without realizing that the program has begun.
MIPS is not just about Medicare; CMS has stated that their goal is to get all insurance companies to support this program, so if you don’t do a lot of Medicare that is not going to save you. We anticipate that all major insurance companies will join this program. Why wouldn’t they if they have the opportunity to reduce your reimbursement.
If all insurance companies participate, the range of penalties to incentives in the MIPS program is from a negative 9% to a positive 27% (based upon the reporting year and scaling factor) of your total insurance revenue. Your practice should fall somewhere into this range.
MIPS Assistance Program (Program fee is $3750 for the 1st clinician, $1875 for each additional clinician):
If you sign up for this program, an STI MIPS Coach will be assigned to your practice to help the providers enrolled in the STI MIPS Assistance Program work towards meeting the goals for MIPS. Your MIPS Coach will work with the providers enrolled, and the practice staff, to begin the process of transforming the practice to one focused on volume of services, to one based on quality of services, in order to meet the MIPS requirements for Quality, Advancing Care, Practice Improvement, and Cost.
MIPS is all about your patient data which means you need to have ChartMaker® Clinical (EMR) to participate. If you do not currently have ChartMaker® Clinical (EMR), please indicate in your response if you plan to participate in the MIPS program and need a quote for ChartMaker® Clinical (EMR). One of our salespeople will contact you promptly.
STI Computer Services, Inc. specializes in the development, sale, installation, and support of medical practice computer software. STI is the author of the ChartMaker Medical Suite an integrated Practice Management and Electronic Medical Record System for physicians. The product is available in client/server, cloud based, or Revenue Cycle Management options. STI also provides hardware, installation and managed services.