EMR Software Incentives

Due to the costs associated with most systems, adopting EMR software for your medical practice or hospital can be a daunting decision. However, new government initiatives have been adopted that can ease the burden on your wallet by offsetting the cost of the software through a series of financial incentives. These incentives not only make an EMR system affordable, they allow you maximize the quality of the care you deliver to your patients.

Stimulus Package EMR Incentives

In order to qualify for stimulus funds from the American Recovery and Reinvestment Act for using an electronic medical record software, you must be able to demonstrate “meaningful use” of certified EMR technology. Though the guidelines for meeting “meaningful use” are in the final stages of being determined, the proposed definition goes well beyond the generation of electronic progress notes to include the use of a Computerized Physician Order Entry (CPOE) module, drug interaction checking, the maintenance of up-to-date problem, medication, and medication allergy lists, reminders for follow-up care, the ability to provide patients with electronic copies or electronic access to their records upon request, the ability to exchange “key clinical information” among providers and ePrescribing.

Though the list of criteria is lengthy, the benefit for meeting these guidelines is substantial: once meaningful use has been established, you can choose to apply for either Medicare or Medicaid incentives and may be eligible to receive up to $64,000 in reimbursements.

E-Prescribing EMR Incentives

E-prescribing is high on the list of action items for the U.S. government in order to advance the rate of adoption for electronic medical records. In order to encourage physicians to move more quickly toward adoption, a 2% bonus (based on overall Medicare reimbursements) is being offered to those providers or practices that report the eRx measure for at least 25 unique electronic prescribing events in which the measure is reportable during 2010.

NOTE: Physicians or practices that receive stimulus incentives are not eligible for e-prescribing incentives.

PQRI EMR Software Incentives

The Tax Relief and Health Care Act of 2006 developed that Physician Quality Reporting Initiative (PQRI), a physician quality reporting system. The act also included an incentive payment for eligible physicians who report data on quality of care given to Medicare beneficiaries during the reporting period for each year. By reporting on a minimum of 3 measures for 80% of Medicare Part B patients, a physician can earn a bonus payment of 2% of Part B charges for the year.

Although purchasing EMR software can be a costly venture, the available incentives can make the financial investment significantly more manageable. With the help of these incentives, the LytecMD and SuiteMed EMR systems can revolutionize your practice by electronically organizing your clinical data so that you can stop chasing paper and spend your time where it’s needed most: giving your patients the attention and care they deserve.