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MIPS – Merit-based Incentivized Payment Systems – is part of the CMS (Centers for Medicare & Medicaid Services) Quality Payment Program, and is designed to reward physicians and clinicians who report with quality data about patient outcomes, and other key metrics that can help determine the overall level of care for Medicare beneficiaries.

There is good news for both cancer patients and health care providers alike; the new Oncology Care Model introduced by CMS will promote value-based care from now on, rather than the old payment structures for cancer care providers, which rewarded quantity over quality. Starting July 1, 2016, over two hundred different physicians and seventeen insurance companies have been chosen to take part in the new Oncology Care Model. The model will run all the way through June 30, 2021, and health care providers participating in it will be able to assume financial risk, should they choose to do so, as soon as 2018.