To encourage providers to contribute to scientific research on COVID-19, they can now earn points in Medicare’s merit-based payment system for this type of work, the Centers for Medicare & Medicaid Services (CMS) announced in a press release.
Called the Merit-based Incentive Payment System (MIPS), a performance-based track of Medicare’s Quality Payment Program, the system rewards physicians for meeting quality and efficiency goals. To earn points or credits, physicians report data to CMS on various activities, which CMS uses to determine final payment rates.
With the CMS announcement, physicians can earn points for participating in clinical trials.
“In order to receive credit for the new MIPS COVID-19 Clinical Trials improvement activity, clinicians must attest that they participate in a COVID-19 clinical trial utilizing a drug or biological product to treat a patient with a COVID-19 infection and report their findings through a clinical data repository or clinical data registry for the duration of their study,” CMS officials said in a press release.
