the bill would revise and consolidates components of the three specified existing performance incentive programs into a merit-based incentive payment system (mips) the secretary of health and human services (hhs) is directed to establish, under which mips-eligible professionals (excluding most alternative payment model [apm] participants) receive annual payment increases or decreases based on their performance. applies the mips program to payments for items and services furnished on or after january 1, 2018.