Many physicians have all voiced the same question with regard to Health IT and the national stimulus package:
“Considering that financial incentives in the new American Recovery and Reinvestment Act (ARRA) will not start until 2011, why do I "have" to select my EHR as early as this year or even by mid-2010?”
An important point to remember in considering when to begin your selection process: it can take up to 18 months from analysis to mastering the ability to collect and report the RIGHT information to the federal government.
If you accept this argument, then the next question that surfaces is:
“How am I going to pay for this system if I don't even start to receive money from the government until January of 2011? Furthermore, the how can I plan around a payment schedule has not been determined yet?”
Physicians need to know that there are resources and funding opportunities out there to help. Those that they can look to and that I’d recommend include:
· Once live on a system, physicians can begin to quality immediately for the 2% e-prescribing and 2% PQRI bonuses that will be paid in 2010
· There are revenue cycle management programs that can potentially help the physician build revenue today to pay for this system.
· The ARRA provides significant money in grants for programs that can provide some “seed” money to help the doctor get started. Physicians can explore these options through the NextGen Grants and Funding Resource Center, their local hospital or through various reputable grants writers working in the industry today
It’s a brand new world of health care, and with health care reform legislation now looming, the physician needs to get engaged today to get the maximum benefit.