Physicians that accept Medicare patients know that without an electronic health records system (EHR), their reimbursements for those patients will start to sink in 2016.
What many doctors are not aware of is the on-going incentive program from the Centers for Medicaid and Medicare Services that offsets some of the costs of setting up an EHR, starting in Year 1.
Known as one piece of the Medicaid and Medicare EHR Incentive programs, the Medicare Incentive for physicians is rooted in the 2009 American Recovery and Reinvestment Act. The Act allows, MDs, DOs, Doctors of Dental Surgery or Dental Medicine, Podiatrists, Optometrists and Chiropractors to receive an annual payment equal to 75 percent of all their Medicare Part B charges, subject to a decreasing annual maximum.
For doctors that begin “meaningful use” of an approved and properly installed EHR system by the end of 2012, the total payment amount over five years could be as much as $44,000.
Even better, for physicians who practice in a designated Geographic HPSA: primary care, dental or mental; the doctor’s standard annual incentive gets increased by 10-percent.
More details about the program are available by clicking here.