Important Medical Billing Terms

  • medical billing termsMeaningful Use
  • Value Based Modifier (VBM) – The Value Modifier provides for differential payment to a physician or group of physicians under the Medicare Physician Fee Schedule (PFS) based upon the quality of care furnished compared to the cost of care during a performance period.
  • Physician Quality Reporting System (PQRS) a quality reporting program that encourages individual eligible professionals (EPs) and group practices to report information on the quality of care to Medicare
  • Merit-Based Incentive Payment System (MIPS) – MIPS defines four categories of eligible clinician performance, contributing to a MIPS composite performance score (CPS) of up to 100 points. It combines the existing Medicare Meaningful Use (MU), Physician Quality Reporting System (PQRS), and Value-Based Modifier (VBM) programs into MIPS, starting with the CY2017 performance year.
  • ICD-10
  • Pay-Per-Performance
  • Medical Data Analytics