PQRS 2015 Penalties
CMS began notifying providers who will be subject to the 1.5% PQRS penalty in 2015. The November 10 letter informs those providers and group practices who did not successfully report for PQRS in 2013 that they will be subject to a 1.5% reduction to their payments under the Medicare Physician Fee Schedule for the calendar year 2015.
Providers and groups who are not successful with PQRS in 2014 will incur a 2% PQRS penalty in 2016 and an additional 2% -4% value based modifier (VBM) penalty.
Additional information on payment adjustments can be found on the CMS website at: http://www.cms.gov/Medicare/Quality-Initiatives-Patient-Assessment-Instruments/PQRS/Payment-Adjustment-Information.html
Watch the Corcoran Consulting Group website for more information on the 2015 PQRS requirements and the VBM program.