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- You need a "certified" EHR that will meet the American Recovery and Reinvestment Act (ARRA) of 2009 requirements.
- This software certification allows practices incentive payments ranging from $40,000 to $65,000 per physician over the lifetime of the incentive program (depending on which incentive program you are pursuing) if your EMR system is fully implemented by 2011 and you're able to take advantage of the maximum incentives from 2011 to the end of 2014.
- To qualify for the Medicare ARRA incentive payments, physicians must fit Medicare's definition of a provider, furnish Medicare Part B services, meet the "meaningful use of Electronic Medical Records" standard and use a qualified EMR. ($40,000 - $48,400 if you qualify for the HPSA bonus)
- To qualify for the Medicaid ARRA incentive payments, your patient base must include more than 30% who are covered by Medicaid. ($65,000)
- Starting in 2015, practices that are not "meaningful users" of EHRs will be subject to the following penalties: 1% reduction in Medicare fee schedule for 2015, 2% in 2016 and 3% in 2017 with slight adjustments to follow afterwards, depending on the percentage of physicians who qualify as "meaningful users" of EHR.
- "Qualified" Electronic Medical Records software will include the design of interoperable Electronic Health Records that allow for the seamless exchange of data among physicians, hospitals, laboratories, pharmacies, and other health care organizations, as well as maintaining the privacy and security of Protected Health Information (PHI) per HIPAA.
- Other EMR incentives for Medicare include e-Prescribing (2% bonus), PQRI (2% bonus), MCMP ($12,500 per provider - if you're not already doing this one, you've missed it!)
