At Cyclops we are committed to keeping you updated on the latest news and impact that the stimulus package will have your practices.
- The Government is committed to influencing the adoption of electronic health care records by all physicians
- Financial incentives will be available to Eye care providers that use a certified EHR through reimbursement for claims submitted to Medicare and Medicaid.
- The levels of incentives are specified and the formula for paying those incentives has been determined.
- Eye care providers are considered “eligible providers” (EPs) and are eligible to receive the incentive payments for adopting EHR technology and meeting the meaningful use criteria.
Beginning in 2011 physicians who are meaningful users of a Certified EMR/EHR technology will be eligible to receive up to $44,000.00 paid out over a five-year period in the form of incentive payments through Medicare reimbursements. Medicare incentives are based on “meaningful use” and are not tied to the actual cost of acquiring or maintaining EHR software.
According to the Centers for Medicare and Medicare Services, the incentive payment is equal to 75% of Medicare allowable charges for covered services furnished by the eligible provider in a year, subject to maximum payments in years 1-5.