Are you getting a positive adjustment payment from CMS this year?
If you successfully participated in MIPS in 2021, you are reaping the benefits this year. Take a look at a Medicare ERA for a treatment date this year. Your incentive payment will be coded as CO-144. It will appear as a negative number but in the crazy world of accounting, that is money added to your payment. Now notice the amount that is coded CO-253. This is the 2023 sequestration cut in payment. It appears as a positive number, but it is money being deducted from your payment.
If you did not successfully participate in MIPS, you would be losing $1.92 for this date of service due to sequestration. As a result of your successful participation in MIPS, you receive a bonus of $2.20 which wipes out the sequestration cut and still gives you an additional $0.28 for this date of service.
95% of Systems4PT clinics achieve a positive payment adjustment by utilizing our built in MIPS prompts. Call us today to find out how we can do this for you.
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