In an effort to improve quality of reporting in the healthcare industry, the Center for Medicare and Medicaid Services (CMS) created the Physician Quality Reporting System (PQRS), which mandates that physical therapists, occupational therapists, and qualified speech-language therapists meet the criteria for satisfactory reporting. Beginning in 2013, not complying with PQRS requirements will result in penalties, which CMS will assess as fines (starting at 1.5% of your fee schedule) in 2015. However, if you are compliant, you will earn a 0.5% incentive payment on your total allowed charges during the reporting period.
And while PQRS isn’t technically mandatory, the risks, penalties, and fines associated with blowing it off just aren’t worth it, because PQRS isn’t as stressful or daunting as many fear it to be. More importantly, it’s good for you and your practice. Adopting PQRS into your clinic’s workflow means you don’t lose 1.5% of your fee schedule payments—in fact, you'll get a .5% incentive. That helps your bottom line, while making your practice Medicare compliant. Additionally, PQRS requires you document outcome measures. To prove rehab therapists are the musculoskeletal experts and to elevate the profession as a whole, we must achieve evidence-based practice. Outcome measures help us do just that.
And if you’re a WebPT Member who lets us help with your PQRS reporting—ensuring accuracy, efficiency, and protection from penalties—you’ll save yourself a lot of time. And everyone could use more of that.
Not a Member, but want our help with PQRS? Schedule a demo today to see how our documentation solution paired with PQRS can help you achieve greatness in therapy practice.