There are multiple definitions:

1. Merit-based Incentive Payment System(English)

   • APM, HCC
   • Financial issues

2. million instructions per second(English)

   • CPU

3. Medical Indemnity Protection Society(English)

   • protection and support for healthcare practitioners and students
   • Care giver/provider, Health insurance
   • https://www.mips.com.au/

4. Microprocessor without Interlocked Pipeline Stages(English)