The Physician Quality Reporting System (PQRS), previously referred to as the Physician Quality Reporting Initiative (PQRI), was a quality reporting incentive program initiated by the Centers for Medicare and Medicaid Services. This has since been combined into the MIPS program. First implemented in 2006, PQRS is an example of a pay for performance initiative that awards providers and practices for reporting high quality healthcare data.
When PQRS first came out, it faced a great deal of skepticism. This budget neutral program was supposedly take money in penalties from the offenders, and give it to those whose quality was high. Many groups debated whether participating in this was worth the hassle, and wondered if there was any upside to participating.
Like many groups and practices, one Dexios client was similarly skeptical. At our urging, they hesitantly conceded that they should participate. We helped them set their measures to fall among at least three of the six quality domains. We then began tracking their performance during the course of 2016, and coached them along the way to eliminate any deficiencies.
Under the Value Based Modifier program, Dexios was able to help this client receive an upward payment adjustment of two times the value modifier. This resulted in an additional 13.26% on every $100.00 paid in 2018 for low cost/high quality.
Let us help you make more money. If you want to achieve similar success under what is now MIPS, contact Dexios.