Reporting takes on a large role in many businesses, but when it comes to running a medical practice, reporting certain data is crucial to not only survival, but also in receiving incentives for keeping track of and reporting specific metrics, including quality of care as assessed by patients. This reporting, entered through a system known as the physician quality reporting system, or PQRS, can be undertaken in a variety of ways, including through Medicare Part B claims, a qualified PQRS registry, certified electronic health record technology, or EHR, data submission vendor, or qualified clinical data registry.
Deciding What to Report
When selecting measures to record and report, consider commonly diagnosed conditions, whether preventative care, chronic care, or acute care have been administered or prescribed, where the care was administered or diagnosed and prescribed, and quality improvement goals year over year. Your practice may have its own quality reporting programs that involve other criteria that may fall in line with the specifications and eligibility of a PQRS program.
Remember, the point of reporting is to stay in line with Medicare and Medicaid services, systems that truly help those in need while financially supporting your practice. In addition, PQRS programs help the government to assemble valuable healthcare statistics that can go on to help physicians understand conditions in their areas and across the country, so it’s more important than ever to ensure that your practice’s reporting practices are correct.
Incentives Can Be a Draw if You want to Make Extra Money for Your Practice
In addition to staying within the law, financial incentives can also be a reason to participate in PQRS programs. If your practice qualifies, based upon PORS standards, you could earn 0.5% of your total Medicare Part B charges that are covered within the reporting period. While that may not sound like much on the surface, it can actually generate quite a bit of money when combined. Take into account, also, that your practice will be covered for many actual Medicare Part B insurance costs. You should also remember that this is 0.5% per period, so accurate reporting will generate revenue throughout the year.
If you’re in doubt, contact the Centers for Medicare and Medicaid Services, or CMS. There, you’ll be able to find out what is covered and where incentives exist for reporting specific healthcare information, and your patients will benefit by receiving the potential for additional government funding if your practice is located in a low-income neighborhood.
Contact PracticeSuite to Ensure That Your Practice is Getting the Most from Reporting
PracticeSuite offers a range of cloud-based practice management system solutions that can help you rein in costs, enjoy incentives, and make reporting PQRS easier. PracticeSuite has created software tools for medical professionals that give you the chance to edit, upload, and share data with your team from virtually any Internet-connect device, including desktops, laptops, tablets, and smartphones. To learn more about PracticeSuite’s cloud-based medical billing software solutions, including your unlimited free version, fill out this convenient contact form.
Last Updated on March 9, 2016