EHR/EMR Software Stimulus Package
Electronic Medical Record Financial Incentives: HITECH Act
How Can Your Practice Benefit from the EMR Stimulus?
With President Barack Obama signing the American Recovery and Reinvestment Act (ARRA) into law ambulatory physician practices are wondering, "how does this affect me?" If you already have an electronic medical records system to chart patient encounters and prescribe electronically, the HITECH Act should provide you with incentives automatically beginning in 2011. If you haven't yet selected an EHR system, be sure and read our EMR Software Buying Guide - helping make the process simpler through a systematic process of elimination.
Spotlight on EMR Adoption Incentives
Medicare EMR Stimulus - Physician Practices.
Providers who accept Medicare can receive up to $44,000 over a 5 year period (2011 - 2016).
Medicaid EMR Stimulus - Physician Practices.
Physicians who see more than 30% Medicaid patient volume (or 20% for pediatricians) are eligible for payments up to $64,000 starting in 2011.
What Happens to Medicare Fee Schedules for Non-Adopters?
Providers who do not demonstrate 'meaningful use' of a certified EHR system by 2014 will see a decrease of 1% in their Medicare fee schedules for 2015. Medicare fee payment reductions will continue annually, up to a maximum of 5% if it is determined that total EHR adoption is under 75% of eligible providers by 2018.The earliest adopters that begin the transition to an EHR immediately and demonstrate 'meaningful' use of the EHR will realize the highest possible financial incentive through the stimulus. Physician practices that elect not to utilize an EHR system by 2015 may see Medicare/Medicaid reimbursement penalties starting at 1% in increasing up to 5%.
As you can see from the table below, providers who adopt and are "meaningfully using" a certified EHR system by 2011 and 2012 will realize the highest Medicare incentive of $44,000. Providers who adopt in 2011 will receive the first payment of $18,000 beginning in 2011. If you are one of the 44,000 United States eligible Medicaid professionals - see the Medicaid EMR Stimulus schedule.
Additional incentives of up to $63,750 are available for pediatricians with 20-30% patient volume of patients receiving Medicaid assistance, as well as uninsured and low income providers.
* HITECH ACT PHYSICIAN REIMBURSEMENT PLAN (Medicare):ELECTRONIC HEALTH RECORDS SOFTWARE |
|||||
|---|---|---|---|---|---|
EHR Adoption 2011 |
EHR Adoption 2012 |
EHR Adoption 2013 |
EHR Adoption 2014 |
EHR Adoption 2015 |
|
| 2011 ($) |
$18,000 | 0 | 0 | 0 | 0 |
| 2012 ($) |
$12,000 | $18,000 | 0 | 0 | 0 |
| 2013 ($) |
$8,000 | $12,000 | $15,000 | 0 | 0 |
| 2014 ($) |
$4,000 | $8,000 | $12,000 | $15,000 | 0 |
| 2015 ($) |
$2,000 | $4,000 | $8,000 | $12,000 | 0 |
| 2016 ($) |
0 | $2,000 | $4,000 | $8,000 | 0 |
| TOTAL | $44,000 |
$44,000 |
$39,000 |
$35,000 |
0 |
You can find the entire contents of the HITECH Act on the Committee on Ways and Means website.
Earn your financial EHR incentive with a CCHIT Certified product - Greenway PrimeSuite. MDS offers weekly 1 hour EMR software demonstration webinars on the billing, scheduling, and charting functionality of PrimeSuite in ambulatory physician practices.
Visit our EMR events calendar to register for an upcoming free webinar on Greenway PrimeSuite - the award winning EMR and practice management system .
* This is MDS Medical's interpretation of the stimulus act as described in Title XIII Health Information Technology portion of the American Recovery and Reinvestment Act. Please consult the United States government websites for additional information or specific details. MDS relies on information from third parties and accepts no responsibility or liability for the content provided herein.
