You have a few days left to qualify for Medicare incentive payments and avoid penalties in the Physician Quality Reporting System (PQRS). All 2013 data must be reported to the Centers for Medicare & Medicaid Services (CMS) by Feb. 24.
If you satisfactorily report, you are eligible for a 0.5 percent incentive payment of the total estimated Medicare Part B services. However, beginning in 2015, failure to meet 2013 performance measures will result in 1.5 percent payment penalty. Likewise, 2016 PQRS penalties will be based on 2014 reporting. That means if you do not participate in PQRS this year, you will face a 2 percent penalty in 2016.
As you prepare to report, CMS advises you to consider these factors when selecting measures:
- Clinical conditions commonly treated
- Types of care delivered frequently, such as preventive, chronic, acute
- Settings where care is often delivered, including the office, emergency department or surgical suite
- Quality improvement goals for 2013
How you can participate
According to CMS, you can participate in the 2013 PQRS program through:
- Medicare Part B claims
- A qualified Physician Quality Reporting Registry
- A qualified electronic health record (EHR) system
- A qualified Physician Quality Reporting EHR data submission vendor
CMS offers additional information here.