An Update on the PQRS Program
As the incentives relating to the Centers for Medicare & Medicaid Services PQRS (Physician’s Quality Reporting System) program will shortly draw to a close, we want to share with you the latest information on the PQRS program and let you know that we stand ready to help you earn the last of the incentives available and avoid PQRS penalties in the future.
Please find below a brief summary of the most significant updates:
- 2014 is the final year for the PQRS “Incentive” program, which means that eligible professionals can earn an incentive payment in 2015 equal to 0.5% of their 2014 allowed Medicare payments.
- Eligible professionals who choose not to participate in the 2014 PQRS program will receive a Medicare payment adjustment in 2016 equal to 2.0% of their allowed 2016 Medicare payments.
- If you have not yet reported your PQRS data for 2013, it is not too late! Avoid a 1.5% penalty to your 2015 allowed Medicare payments and earned a .5% incentive to your 2013 allowed Medicare payments. To ensure receipt of the incentive and avoidance of the penalty, 2013 PQRS reporting must be completed by February 28, 2014.
Precision would enjoy working with you to complete your PQRS reporting. Please contact Jessica Imes at firstname.lastname@example.org or (314) 881-5216 if we can assist you.