BOSTON, June 20, 2017 /PRNewswire/ -- MedAptus®, a Boston-based healthcare technology company, has partnered with Mingle Analytics to help hospitals maximize Medicare reimbursement bonuses and avoid significant penalties under the new Merit-based Payment System (MIPS) program.
Under MIPS, which began in January, it will no longer be enough for hospitals to just report quality data. Performance will now be measured and penalties could reach as high as 9 percent under the new program.
MIPS combines several programs developed by Medicare, including PQRS, Value Modifier and Meaningful Use into a single program. But the combination created a complicated set of requirements, including: confusing time frames, overlaps in requirements, wasted resources, and inconsistent measurement and payment adjustments for quality and cost of healthcare.
"Because the payment landscape is changing so rapidly, it's critical that hospitals and other providers have the latest reporting tools at their disposal," said Gene Schneider, CEO of MedAptus. "Hospitals can definitely improve their revenue through proper reporting. But get it wrong and the reverse is true—they could see a significant hit to their bottom line. As a result, we did an extensive search to align ourselves with an organization who could help our customers navigate through these complicated reporting requirements. In the final analysis, we picked Mingle Analytics as our partner. This partnership allows us to offer the highest level of MIPS support to our customers."
MIPS Solutions™ by Mingle Analytics helps health organizations navigate through the complexities of the new requirements for reporting by providing three levels of service that increase the probability of earning value or merit-based incentive payments under the Merit-based Payment System (MIPS) and help avoid penalties. The three levels are: Essentials Edition, Performance Edition, and Enterprise Edition. Each edition is tailored to practice service needs.
With the Essential Edition, customers will participate in MIPS to avoid penalty by reporting for one quality measure, the base ACI measure, or an improvement activity.
With the Performance Edition, customers will fully participate in MIPS to become incentive and bonus eligible. In addition, they may analyze up to nine measures, plus report IA and ACI categories. Customers may produce quarterly reports to track and improve performance.
With the Enterprise Edition, customers will be able to maximize potential for MIPS and APM incentive and bonus payments. Users can analyze up to 18 measures with continuous performance reporting.
Mingle's solution integrates with MedAptus Charge Capture solutions and receives other input from the various hospital and physician practice systems necessary to comprehensively meet the stringent MIPS reporting requirements.
MedAptus is a Boston-based healthcare software company that helps care teams work better together by developing and implementing patient assignment, secure communications and charge capture technology. The company's solutions have boosted financial performance, improved operations, and enhanced team care for hospitals throughout the United States. MedAptus has also been recognized as a leader in mobile charge capture software and services by KLAS six out of the past seven years and was named Category Leader in 2017. www.medaptus.com
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SOURCE MedAptus, Inc.