The payment adjustment formula is complicated. Small practices need to understand which levers they should pull to maximize their reimbursement. Since the MIPS/APM program is highly flexible with several pathways, there is much room for confusion. It can be challenging for Physicians in small practices to determine their next steps. Additionally, in contrast to larger clinically integrated health systems, most small practices lack the resources and expertise necessary to drive performance toward value-based care in critical areas such as:
Despite these challenges, there are some important actions that Physicians and administrators in small practices can take.
The key to improved patient outcomes is focusing on capturing the right data in real-time that is accurate and relevant and using that data to create knowledge to drive action. Whether you partner with experts in the field or go it alone, you need to evaluate your population health, EMR and data strategies. An experienced partner should truly understand the challenges you face and provide solutions that meet your unique needs.