Franklin Healthcare EMR Technologies EMR Consultant

 

PROVIDER FINANCIAL INCENTIVES


The HITECH Act tries to make the adoption of healthcare-related IT services a financially lucrative option for healthcare practitioners, but only for those who decide to do so early. Eligible providers who fall within the realm of meaningful use of EMR will receive incentives in the form of cash payments.


Healthcare practitioners willing to implement EMR right away stand to gain more in the form of bonuses. Eligible medical professionals who can establish meaningful use of EMR / EHR by 2010-11 can expect to receive up to $64,000 per provider as incentive. The amount drops significantly for those who choose to wait. Medical professionals in defined shortage areas can also gain an additional 10% in bonuses.

 

Avoid the Penalties

 

Physicians and facilities that are non-compliant and can't prove using a certified EMR solution will face harsh penalties, including phased-out incentives.

 

Incentives to implement EMR now:

  • Incentive payment up to $64,000 per provider

  • Payments starting as early as 2011

  • Reduced payments if EMR implementation started after 2012

  • Required to become a meaningful user of certified EMR to receive incentives

  • Improve patient safety and quality of care

  • Financial penalties for non-compliant medical providers

  • Purchase of EMR might qualify for a current year tax write off under Section 179 of IRS code

  • Maximum tax write off was increased from $125k to $250k


     

     

     

    emr incentives