Kimberly Bailey, partner and owner of KRK Value-Based Consulting, speaks with host Janelle Ball about implementing MIPS (Merit-Based Incentive Payment System) and its impact on physician reimbursement under Medicare. They also discuss the points system in MIPS and the minimum requirement of 75 points to avoid a negative adjustment.
MIPS consultants like Kimberly Bailey and her KRK consulting team can help medical practices navigate the program and maximize their performance.
DISCLAIMER: This podcast is for informational purposes only and should not be considered medical or health advice. This podcast does not substitute medical treatment. Always consult a doctor or dermatologist regarding medical advice, diagnoses, or treatment.
Kimberly Bailey explains the origins of MIPS, detailing how it emerged as a solution to the unsustainable Medicare reimbursement model based on the sustainable growth rate. MIPS, which stands for Merit-Based Incentive Payment System, is a data program implemented by CMS (Centers for Medicare and Medicaid Services) to shift from fee-for-service to value-based care. She highlights the shift from fee-for-service to value-based care, emphasizing the program's focus on data collection and preventative care to improve patient health and reduce Medicare spending.
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One crucial aspect of the MIPS program is the requirement for thorough documentation. While MIPS can be complex and time-consuming, it offers the potential for increased reimbursement for medical practices. Physicians can improve patient outcomes and enhance their financial viability by focusing on value-based care and meeting the program requirements. Kimberly Bailey proves she is an expert on this subject by explaining MIPS in a practical and straightforward method on That’s Derm Good!
What is That's Derm Good!?
Are you a dermatology patient who wants to understand your medication access better? A dermatology provider with questions about how to advocate for patients? You may be a biologic coordinator, practitioner, field access specialist, nurse, pharmaceutical rep, or anyone with skin who wants to hear from leaders in dermatology! That's Derm Good will answer your questions and more!
That's Derm Good is an interview-based podcast with insights and practical tips about dermatology. Host Janelle Ball, a popular speaker, and biologic coordinator consultant, is talking to leading experts about current trends in dermatology, access to medication, medication affordability, derm conditions, and advocacy.
Subscribe to That's Derm Good today for fun discussions about treatment, specialty medications, dermatology, careers, and consulting. For questions or to suggest a topic, contact info@thatsdermgood.com. Thanks for listening!
DISCLAIMER: This podcast is for informational purposes only and should not be considered medical or health advice. This podcast does not substitute medical treatment. Always consult a doctor or dermatologist regarding medical advice, diagnoses, or treatment.