Financing Your EHR System

There are several solutions to handling your financial woes. 

1) Obtain a loan or line of credit from your bank
Most loans for expensive technology are only for 3-5 years because of newer products that may come out in that time period.

2) Obtain a lease
This is the most widely used form of financing. This is paid on a monthly basis, usually 12-60 months, and at the end of the period you own the software.

3) Pay in Cash
This is also an option, but for smaller clinics, this is not advised as cash flow is something necessary to have, especially in a new clinic.

4) Government Incentive Program
A doctor who adopts a qualified EHR program meaningfully can earn up to $44,000 in stimulus money over a 5 year period. This will more than pay for the EHR program if you have it implemented and qualified by 2010. The system you purchase must be CCHIT certified and you must be qualified as a "meaningful user" of the EHR software.