MIPS: Closing Out 2024 and Starting 2025 Strong
As we approach the end of 2024, it’s time to ensure you end the year strong and ready to report for the Merit-based Incentive Payment System (MIPS). It’s also equally important to prepare for the opportunities and challenges that 2025 will bring. December 31, 2024, marks the deadline to finalize this year’s performance, and with January 1, 2025, looming on the horizon, the focus shifts to new program updates for MIPS and Accountable Care Organizations (ACOs). Let’s explore how you can finish this year strong and step confidently into the new performance period.
Key Dates to Remember
December 31, 2024: Final day to complete MIPS-related activities for 2024.
December 31, 2024: Virtual group election Closes
December 31, 2024: The application submission deadline is 8 p.m. ET
January 1, 2025: Start of brand new performance year for MIPS and ACOs
January 2, 2025: Submission portal and window open with CMS
March 31, 2025: Per CMS, submission window for 2024 performance year ends. This is the last day to attest and submit your data for 2024.*
*Check with your vendors as many have their own unique deadlines.
Wrapping Up 2024 with Confidence
Finalize Your Quality Data Submission
MIPS quality data must be accurate and comprehensive to maximize your score. Ensure all data is “complete” to meet data completeness minimum thresholds. Ensure data is captured and verified for completeness before submission. For those reporting electronically, double-check system integration, including mapping, to prevent errors.Review Promoting Interoperability Measures
Verify compliance with Promoting Interoperability (PI) requirements, especially related to certified EHR use. Ensure your PI measures meet thresholds to avoid penalties. Especially for items like the Security Risk Assessment and SAFER guides!Optimize Improvement Activities
Take credit for the activities you’ve completed that enhance care delivery. Document these initiatives thoroughly, as they can significantly boost your MIPS score. Be careful to make sure you have adequate proof, or data validation, documentation on file!Engage Staff
Schedule a final team meeting to review performance metrics, identify gaps, and strategize improvements. Celebrate wins to keep morale high and focus sharp. Remember that every encounter is a MIPS opportunity especially for Quality measures!
Getting Ready for 2025
New MIPS Performance Year and Quality Timeframe Begins
Beginning in 2025, CMS will introduce updated quality measures aimed at promoting more effective and impactful care delivery under the MIPS program. Begin familiarizing your team with these changes now to ensure seamless integration.
ACOs on the Clock
ACOs must hit the ground running in 2025, as CMS continues its shift toward value-based care. Practices participating in ACOs should:
Prepare to participate in Promoting Interoperability with CERHT
Develop actionable strategies to meet shared savings goals.
Enhance care coordination through data-sharing tools.
Monitor patient quality measure performance and cost metrics closely.
Leverage Technology and Partnerships
Evaluate your current technology systems and partnerships. Can your EHR system handle the upcoming requirements or are their measures stale and not allowing you maximum point potential? Are you aligned with experts who can assist with regulatory education, performance tracking, and submissions?
The Opportunity Ahead
MIPS and ACOs are not just compliance mandates—they are opportunities to elevate patient care and strengthen financial stability. By aligning your practice with CMS priorities, you can drive better outcomes for your patients while positioning your organization for long-term success.
Are you ready for 2025?
Ready to streamline your MIPS reporting and maximize your score? Contact Chirpy Bird today to learn about our monthly support packages tailored to your needs.
