Finding the right Healthcare Information Technology (HIT) solution provider that meets the requirements of your practice can be challenging, because your needs vary according to your specialty, the size of your practice, and your practice business flow. But the right provider can help you with tools you can use to help you improve both patient outcomes and your ability to deliver efficient, quality care.
The American Recovery and Reinvestment Act of 2009 (ARRA), widely referred to as the Economic Stimulus Plan was signed into law in February 2009. The Act aims to stimulate the economy through investments in infrastructure, unemployment benefits, transportation, education, and healthcare.
The part of the stimulus bill that pertains directly to medical providers is the Health Information Technology for Economic and Clinical Health Act, or HITECH Act. The HITECH Act contains multiple economic incentives to accelerate the adoption of Electronic Health Records by medical providers nationwide, including $20 billion via Medicare and Medicaid incentive payments to aid eligible medical providers in adopting electronic health records.
If you become a meaningful user of a qualified EHR by 2011, you can receive:
- up to $44,000 from Medicare, or
- up to $64,000 from Medicaid
The chart below shows the breakdown of payments per physician per year. Notice that if you do not start by 2011 that you will not be eligible to receive the full $44,000.
Eligible Professionals who qualify for the incentives are Medicare-participating physicians who adopt qualified EHRs and use them in a meaningful way or Eligible Professionals who have at least 30% Medicaid patients and who also meet the health IT adoption standards. Pediatricians can qualify under the Medicaid incentive if they have at least 20% Medicaid patients, but they would be eligible for only two-thirds of the incentive payments available to physicians meeting the 30% standard.
In order to qualify under the Medicare or Medicaid incentive plans, you need to demonstrate that you are using technology in a meaningful way.
We can help provide you with the knowledge and expertise to help your practice meet the meaningful use criteria so you can start taking the steps necessary today to take advantage of this program.
Give us a call at 1.877.596.5966 to schedule a complimentary review of your Health Information Technology (HIT) needs.