In 2004, President George W. Bush determined that all physicians and hospitals should undertake the digital health record (HER) era within 10 years. To do the maths for you…That is 2014. If you have not already commenced, now’s the time to get your digital health file machine.
What is the HITECH Act?
It’s part of the Stimulus Bill, officially called the American Recovery and Reinvestment Act (ARRA) of 2009. ARRA has now not considered to be fitness care law, but a portion of it turned into committed to the electronic fitness file vision of President George W. Bush. When President Barack Obama signed the Stimulus invoice on February 17, 2009, it included $19 Billion as incentive money for the adoption and the significant use of digital health records. The Health Information Technology for Economic and Clinical Health (HITECH) Act is the sub-provision of ARRA, which deals with health records technology.
EHRs are digital medical records on steroids. Electronic medical statistics cope with automation within a facility. Electronic fitness statistics include HIPAA protection and the ability to trade data among scientific companies and pharmacies.
The HITECH Act passed in 2009 should not be stressed with the Patient Protection, and Affordable Care Act (PPACA) passed in 2010. PPACA, called the Health Care Reform Bill, has entirely distinct funding. Funding has been bitterly contested. If, for a few motives, this PPACA is repealed, it will not affect the Centers for Medicare and Medicaid Services (CMS) digital fitness document projects. Nor wouldn’t it affect the incentive cash allotted to assist physicians and hospitals with the transition.
WIIFM? Or What’s In It For Me?
If you buy your EHR machine now, you may qualify for a number of the $19 Billion that changed into appropriate in the HITECH Act. These CMS incentive price ranges might be paid in annual installments beginning in 2011. Medicare docs can obtain a complete of up to 44,000, paid over 4 years. Physicians qualifying for Medicaid incentives cash can receive as much as $ sixty-three,750 paid over 6 years.
ALERT: Medicare physicians need to act now. If you wait till 2013 to begin qualifying, your maximum incentive bills can be reduced.
What if I forget about the HITECH Act?
The penalties began in 2015. You’re in all likelihood already thinking which you do not get paid sufficient from Medicare. Well, in 2015, your Medicare reimbursements will be reduced by 1%, in 2016, the reduction is 2%, and through 2017, the reduction is 3%…That is if you haven’t applied your machine and /or met the significant use standards.
But it may worsen. You and your clinical exercise are not in this by myself. Penalties bear in mind the adoption and significant use rates of all eligible fitness care providers. If less than seventy-five % of all physicians are meaningfully using their electronic fitness report using 2018, the penalty is extended to 4% and could top out at a 5% discount beginning in 2019!
So some other WIIFM is fee avoidance. So yes, you could ignore the HITECH Act. But, it’ll cost you NOT to enforce a digital health report machine.
What’s the coolest news?
To the track of $677 million, more authorities’ money has been allocated to Regional Extension Centers or RECs. Their assignment is to offer FREE assistance to number one care fitness care companies. In addition, they allow you to qualify for your incentive money.
Need Help Electronic Health Record software program?
FREE Assistance to be had for some physicians!
Visit ElectronicHealthRecordRescue.Com for greater facts about a) the adoption of a digital health record machine
and b) qualifying for EHR incentive cash from CMS.