Three ways to maximize your Medicare Part B payments in 2019
On average, oncologists receive $316,425 in Medicare Part B payments each year.*
A physician who did not report PQRS or attest to meaningful use in 2015 will see a 9 percent cut in Part B payments in 2017; failure to report and attest in 2016 means the same for 2018.
- A 2 percent cut for not reporting PQRS
- A 4 percent cut for the physician value modifier
- A 3 percent cut for meaningful use
For the average oncologist, that means leaving $28,478 per year on the table in 2017 and 2018.
For 2017, PQRS and meaningful use have been replaced with the Merit-Based Incentive Payment System – MIPS – with new reporting requirements across three categories of performance measures:
Failure to report in 2017 will mean a 4 percent cut in Part B payments in 2019. For those physicians who elect not to participate, they will receive 5 perecent more in Part B payments than they will receive this year due to failure to report PQRS/attest to meaningful use in 2015.
With minimal effort, however, physicians can avoid the 4 percent MIPS penalty for 2019.
Under CMS’ "Pick Your Pace" program, by completing just one of the options below, physicians or group practices will not be assessed a MIPS penalty, meaning 9 percent more in Part B payments for those who did not report/attest in 2016: