As well are all aware by now, this whole PQRS thing is going to be around for a long time, so the sooner we get used to it, the better. And besides, even if Medicare does do away with it we all know there will be something similar nor far behind it!
PQRS or the Physician quality reporting system requires professionals who bill Medicare under part B to report data, finding and notes to ensure payment and above all to avoid the adjustment penalization that occurs with non-participation or unsatisfactorily. This is currently set at an annual deduction of 1.5% on claims but has been now been raised to 2% and that will take effect in 2017.
But there is not just punishments there is rewards too, with CMS paying out more than $380 million in incentive payments through PQRS and Electronic-Prescribing Incentive Program.
So how are we Physical Therapists faring?
Well for the most part not bad, but not great either with almost 40% of health care providers seeing their Medicare reimbursements cut by 1.5% for the whole of 2015 as they did not meet the guidelines.
But the big news is that Physical Therapists have done the side proud and actually beat the national average by more than 10 points!
How about other health-care providers? It would seem that Physicians for the most part have no interest in taking part and do not seem overly concerned with the threat of a 1.5% reductions in reimbursements due to not reporting PQRS. 65% of eligible physicians did not take part claiming the whole process is too confusing and too time-consuming!
However of these 65% physicians it is estimated that the vast majority will treat less than 100 Medicare patients a day so that could also be a big factor, either way nice job therapists, take a bow and your incentive you’ve earned it!