Self Nominate to Avoid 2% Pay Cut in 2016
Your physician group has just a few short weeks left to register to participate in the 2014 Physician Quality Reporting System (PQRS) Group Practice Reporting Option (GPRO). Physician groups with 10 or more eligible professionals who miss the September 30 deadline face an automatic negative 2 percent value modifier payment adjustment in 2016.
Section 3007 of the Affordable Care Act mandated that, by 2015, the Centers for Medicare & Medicaid Services (CMS) begin applying a value modifier under the Medicare Physician Fee Schedule (MPFS). Both cost and quality data are to be included in calculating payments for physicians.
Even if you can’t get your entire group on board with PQRS, you still might be able to avoid the impending 2 percent reduction. You need only 50 percent of the eligible professionals in your group to participate as individuals in PQRS and meet the reporting requirements to avoid the 2016 value modifier payment adjustment.
You haven’t much time, though. Get started by visiting the CMS website for details.