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Learn all about the Economic Stimulus Plan and how Abraxas can help you capitalize on Medicare and Medicaid incentive payments and receive maximum dollars available.
With unprecedented incentives of up to $64,000 per Eligible Professional for implementing electronic health records (EHR), there is a lot of interest on behalf of medical providers to learn more about the Stimulus Plan and how they can benefit from it. Therefore, we have created this page as an information center covering some of the most commonly asked questions concerning the Stimulus Plan and how medical practices can benefit from it.
What is the 2009 Stimulus Plan?The American Recovery and Reinvestment Act of 2009 (ARRA), widely referred to as the Economic Stimulus Plan was signed into law in February 2009. The Act aims to stimulate the economy through investments in infrastructure, unemployment benefits, transportation, education, and healthcare. What is in it for you?The part of the stimulus bill that pertains directly to medical providers is the Health Information Technology for Economic and Clinical Health Act, or HITECH Act. The HITECH Act contains multiple economic incentives to accelerate the adoption of Electronic Health Records by medical providers nationwide, including $20 billion via Medicare and Medicaid incentive payments to aid eligible medical providers in adopting electronic health records. If you become a meaningful user of a qualified EHR by 2011, you can receive:
Are you eligible to receive the incentives of up to $64,000?Eligible Professionals who qualify for the incentives are Medicare-participating physicians who adopt qualified EHRs and use them in a meaningful way or Eligible Professionals who have at least 30% Medicaid patients and who also meet the health IT adoption standards. Pediatricians can qualify under the Medicaid incentive if they have at least 20% Medicaid patients, but they would be eligible for only two-thirds of the incentive payments available to physicians meeting the 30% standard. How can Abraxas help you?In order to qualify under the Medicare or Medicaid incentive plans, you need to demonstrate that you are a "meaningful user" of a "qualified EHR". We can provide you with a "Qualified EHR": A Qualified EHR software is expected to include patient demographic and clinical health information, such as medical history and problem lists, and have the capacity to provide clinical decision support, to support physician order entry, to capture and query information relevant to healthcare quality, and to exchange electronic health information with, and integrate such information from other sources. We can help you become a "Meaningful User": In order to demonstrate that you are a “meaningful user” of an approved EHR, you should prove that you:
Our team of experienced project managers and trainers can help you meet all of the above requirements. Abraxas EMR is already well positioned to help you maximize your incentive payments in year one, 2011. We are closely monitoring emerging requirements. Abraxas is commitment to help you achieve and maintain the status of a “Meaningful User. What are the Medicare incentives?All non-hospital physicians who see Medicare patients and are meaningful users of an approved EHR by year 2011 are eligible to receive a stimulus payment of up to $44,000 per physician over five years according to the following schedule.
 What are the Medicaid incentives?All non-hospital based physicians whose practice is greater than 30% Medicaid (or 20% for pediatricians), as well as their Certified Nurse Midwives & Nurse Practitioners, and Physician Assistants who are practicing in federally qualified health centers (FQHCs) or rural health clinic (RHCs) led by a physician assistant are qualified to receive up to $63,750 EACH, once they become meaningful users of a Certified EHR:
The exact incentive is calculated at 85% of the Net Average Allowable Cost of the HER system, including cost of software, hardware, implementation, training, maintenance, etc.; and it is capped at a maximum per year according to the following schedule:
Can you be eligible for both Medicare and Medicaid incentives?Qualified providers can apply for either Medicare incentives or Medicaid incentives, but not both. When will incentives be available?Incentives will be available beginning in 2011 for implementations completed and meaningful use established during 2010. Are there penalties for not using an EMR?Starting January 1, 2015, eligible providers who are not meaningful users of an approved EMR will begin to have their Medicare reimbursements drop 1% per year until it reaches 5% in 2020. Why should you act NOW?Target a purchase date of early 2010 - This is the best way to ensure you reach eligibility in time for the 2011 Medicare and Medicaid Incentives. Once you select an EHR software, additional time is required for implementation, training and then allowing your staff to become proficient and for your use to be considered meaningful. Most experts predict meaningful use means having at least one year of active EMR use at the point-of-care. Waiting could delay and/or reduce what you may receive in stimulus payments. Industry experts are predicting an unprecedented surge in number of physicians purchasing EMR and rushing to learn it to be considered a “meaningful user” in 2010. Providers who choose to wait can expect the following:
Other incentives you may qualify forElectronic Prescription Incentives: Bonus payment of 2% on allowable Medicare Part B charges provided the eligible professional reports one e-prescribing measure in at least 50% of the cases in which the measure is reportable by the eligible professional. >>Read more Tax Deduction Benefits for EMR: Medical offices are allowed to write-off up to $135,000 of EMR software and computer equipment costs purchased and placed in service during 2010, even when purchased under a lease or financing agreement. This Section 179 tax deduction limit will decrease to $25,000 in 2011. >>Read more ResourcesFor the full text of The American Recovery and Reinvestment Act of 2009, please visit www.whitehouse.gov; "Certification and Meaningful Use", Testimony of Dr. Leavitt (Chairman of the CCHIT) before the NCVCH Executive Committee, please visit CCHIT.org. * To the best of our knowledge, this information is accurate as of this writing. As more information becomes available from HHS and other agencies, this page will be updated. Please check this link regularly. |
