Federal incentives to implement Electronic Health Records (EHR) starting 2010
January 20th, 2010The American Recovery and Reinvestment Act (ARRA) of 2009, also known as the “stimulus bill,” includes $19 billion for converting the U.S. healthcare system from paper to digital over the next decade. Healthcare system participants ranging from hospitals to insurance companies to doctors are given a strong push into the digital age, with significant financial incentives to implement electronic health records (EHR) starting 2010.
Doctors who implement qualified EHR protocols can receive a maximum of $44,000 in reimbursements from the federal government. This will be tied to the Medicare program, which insures elderly and disabled Americans, with money paid in the form of increased reimbursement rates for Medicare visits. Those who demonstrate meaningful use of EHR in 2010 can receive up to $18,000 in 2011, $12,000 in 2012, and decreased amounts for the next two years, up to a maximum of $44,000. No funds allocated for EHR implementation under the stimulus bill will be available after 2014, although Congress could later enact laws to extend the reimbursement program. Therefore stakeholders in the healthcare sector are advised to act quickly!
The EHR will have the capacity to benefit health providers economically through increased intra-office efficiency and decreased overhead. In addition it will also increase quality of care and decrease costs to the overall healthcare system through creating information systems in which practitioners have quick access, in a well-organized and prioritized format, to relevant aspects of a patient’s health record.
M- Squared Software & Services has been following the American Recovery and Reinvestment Act of 2009 very closely. T-CAS, our Clinic Management Software has an inbuilt electronic health records (EHR) system. We are fully committed to providing solutions that comply with all regulations of the ARRA. Hence we can assure healthcare providers of providing software that can satisfy all existing and forthcoming health IT standards mandated by the government. We also understand that proper certification and integration are going to be key deciding factors for hospitals looking to select a vendor.
How to qualify for Grant?
