Incentives & penalties
The Physician Quality Reporting System (PQRS) will have a profound effect on rheumatologists and their staff this year. For those practices that have not started reporting measures for PQRS, now is the time to start. This reporting year marks the last year that eligible professionals can earn a 0.5% incentive for successfully reporting measures. In addition, for those rheumatologists and their eligible staff who fail to report data in 2014, they will be subject to the 2016 payment penalty of 2.0%. Although incentives are rewarded only a year after the reporting period, it takes a full two years for the payment penalty to take effect. For the 2014 reporting period, the performance penalty will not be assessed until fall 2016.
Important Dates
- Jan. 1–Dec. 31, 2014: 12-month reporting period for PQRS;
- July 1–Dec. 31, 2014: Six-month reporting option for PQRS;
- Fall 2015: Incentives (0.5%) granted for those practices that successfully reported data in 2014; and
- Fall 2016: Penalties (2.0%) assessed for those practices that did not meet the performance requirements for 2014 PQRS.