Collect up to $44,000
You could receive up to $44,000 for doing something many DCs feel they should do anyway
At Future Health, we don’t think any doctor should buy practice software simply to take advantage of the government’s up-to-$44,000 Medicare EHR Incentive.
But if you’re already considering practice software, this is icing on the cake.
For a limited time, D.C.s are eligible to receive incentive money from the government by implementing a certified EHR (Electronic Health Record) system within their practice.
DCs are eligible for up to $44,000.00 in cash incentives over five years.
These incentives are part of the American Recovery and Reinvestment Act (ARRA) of 2009 … specifically the HITECH Act portion of ARRA.
Here’s how the payments break out:
The amount you'll receive is based on your Medicare-allowed charges submitted over the payment year or payment timeframe.
You'll receive 75% of your eligible Medicare-allowed charges, up to the maximum limit for a certain payment year.
So, for example, if you have a certified EHR and meet meaningful use requirements in 2012 - and 75% of your annual Medicare allowed charges submitted total at least $24,000 - you'll receive the full $18,000 allotted in 2012.
75% of $24,000 in Medicare allowed charges = $18,000 in incentives
Or, if you had $10,000 in annual allowed charges submitted to Medicare, then you would still receive 75% of that - $7,500 - in 2012.
The amount you're eligible to receive drops each year, and ultimately doctors not using EHR will start being penalized in 2015 through lower Medicare reimbursements. (see chart above)
So it makes sense to act on this quickly.
But be sure to choose software with Complete Certification or you may risk losing your incentive.
Future Health eConnect and CVOS has received Complete ONC-ATCB Certification