Which component is NOT a part of the MIPS formula for physician payment adjustments?

The component that is not part of the MIPS formula for physician payment adjustments is patient volume. MIPS, which stands for the Merit-based Incentive Payment System, evaluates physicians based on four performance categories: Quality, Cost, Improvement Activities, and Promoting Interoperability.

Quality measures reflect the effectiveness of care provided to patients and assess performance on various clinical measures. The Cost category evaluates the overall resource use attributed to the clinicians' services. Improvement Activities focus on providing high-quality care through various initiatives that enhance performance.

Patient volume, while relevant in healthcare practices, is not a direct factor in determining payment adjustments under MIPS. Instead, MIPS focuses on how effectively and efficiently care is delivered, rather than the quantity of patients seen, making patient volume an incorrect choice in this context.