Are you ready to collect your federal stimulus dollars for your electronic health record(EHR), also called electronic medical record (EMR)?
The recently enacted Health Information Technology for Economic and Clinical Health Act (HITECH)- a part of the “stimulus plan”-allows physicians to earn up to $44,000 over five years if they use an electronic health record (EHR) in such a way as to comply with certain criteria.
What does it mean to physicians?
"Beginning in 2011, physicians can receive extra Medicare payments for the “meaningful use” of a certified EHR. These payments can total as much as $18,000 in the first year for practitioners who adopt in 2011 or 2012, with slightly lower amounts for those who do so in 2013 and 2014; incentives are gradually reduced and then end in 2016. For physicians with high volumes of Medicaid patients (30% or higher), the law provides subsidies through the Medicaid program as well. Doctors must choose whether to participate in the Medicaid or Medicare bonus program; they cannot receive bonus payments from both.
Thus, eligible professionals demonstrating meaningful use of a certified EHR starting in 2011 could collect $44,000 over five years. Waiting until 2013 would result in a maximum bonus of $27,000 over three years. HITECH also imposes financial penalties to spur adoption. Physicians who are not using EHRs meaningfully by 2015 will lose 1% of their Medicare fees, then 2% in 2016, and 3% in 2017. The law states that only “eligible professionals” who “meaningfully use” a “certified” EHR will able to collect the stimulus money".
What I am not sure are the terms “eligible professionals”, " meaninful use", and "certified" EHR. Who is eligible? What does "meaningful" mean? Which regulatory agency would certify for which EHR software? Does anybody know?
The recently enacted Health Information Technology for Economic and Clinical Health Act (HITECH)- a part of the “stimulus plan”-allows physicians to earn up to $44,000 over five years if they use an electronic health record (EHR) in such a way as to comply with certain criteria.
What does it mean to physicians?
"Beginning in 2011, physicians can receive extra Medicare payments for the “meaningful use” of a certified EHR. These payments can total as much as $18,000 in the first year for practitioners who adopt in 2011 or 2012, with slightly lower amounts for those who do so in 2013 and 2014; incentives are gradually reduced and then end in 2016. For physicians with high volumes of Medicaid patients (30% or higher), the law provides subsidies through the Medicaid program as well. Doctors must choose whether to participate in the Medicaid or Medicare bonus program; they cannot receive bonus payments from both.
Thus, eligible professionals demonstrating meaningful use of a certified EHR starting in 2011 could collect $44,000 over five years. Waiting until 2013 would result in a maximum bonus of $27,000 over three years. HITECH also imposes financial penalties to spur adoption. Physicians who are not using EHRs meaningfully by 2015 will lose 1% of their Medicare fees, then 2% in 2016, and 3% in 2017. The law states that only “eligible professionals” who “meaningfully use” a “certified” EHR will able to collect the stimulus money".
What I am not sure are the terms “eligible professionals”, " meaninful use", and "certified" EHR. Who is eligible? What does "meaningful" mean? Which regulatory agency would certify for which EHR software? Does anybody know?
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