Merit-Based Incentive Program System

Acronym: MIPS

A system for adjusting payments under the Medicare physician fee schedule to nonadvanced alternative payment model (APM) providers based on metrics assessing provider quality, resource use, meaningful use of electronic health records, and clinical practice improvement activities. MIPS is one of two payment tracks created under the Medicare Access and CHIP Reauthorization Act (MACRA), which moves Medicare Part B providers to a performance-based payment system.