- Provider for Medicare or Medicaid;
- Be a meaningful EHR user
- Physicians must qualify
- Proves to have implemented a qualified EHR software and be interoperable
Physicians with a qualified EHR, qualified EMR in place before 2011 or 2012 will be eligible for the maximum Medicare incentive payments allowed by the stimulus package. Doctors who have not adopted an EHR before 2015 and who fail to obtain a hardship exemption will see a 1% cut to Medicare pay, a reduction that phases up to 3% for 2017 and remains each year after that.
In 2011, however, the reward for e-prescribing will begin to decrease, a fee for not using e-prescribing will begin in 2012. The e-prescribing incentive payment will be 1 percent in 2011 and 2012, and 0.5 percent in 2013. The fee for not using e-prescribing will be a reduction in Medicare reimbursement by 1 percent in 2012, 1.5 percent in 2013, and 2 percent in 2014.
Depreciation and Expenses 2010
Section 179 limits. The maximum expense deduction you can elect for qualified property you placed in service in tax years that begin in 2009 remains at $250,000 ($285,000 for qualified enterprise zone property and qualified renewal community property). This limit is reduced by the amount by which the cost of property placed in service in the tax year exceeds $800,000
Under the 2008 Economic Stimulus Act (ESA), you can take further advantage of the Section 179 expense allowance to write off the entire cost of your new and used Healthcare equipment purchases in 2010.
Specifically, the expense allowance has been temporarily increased from $128,000 to $250,000 for taxpayers with total capital investments of $800,000 or less. Equipment acquired with a capital lease ($1 purchase option) and placed into service by December 31, 2008 is eligible for the increased allowance.
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| Electronic Medical Record Software |
Electronic Medical Records System
Also known as Electronic Health Records System
More and more medical practices have adopted the use of medical records, the need to manage paper records or charts is at your discretion. Every chart is electronic stored in our Electronic medical records software. By using an EMR patient information system, it practically manage itself. And, with a proper data backup installed, your patient system information database is safe and accessible. All of this comes with complete HIPAA compliance, and the ability to cut costs through both office supplies and human resources. The savings come to most medical practices immediately, start enjoying what many of our customers have been enjoying for years.
Chart medical records have many disadvantages. One, they are difficult to handle because of the quantity and the volume. With chart medical records, practices in growth must deal with the fact that each individual patient record chart takes more and more space, and the need for storage for these medical records charts also grows. Over the long term, these charts create a big headache to medical offices.
Paper medical records charts are slow, they must be handled by individual staff, moved from storage to room to room each day, then to the doctor office, or another place and many times they are lost or misplaced on the same practice, and often mixed up in the day-to-day business of running a clinic or practice.
Managing paper medical record charts is simply a difficult and time consuming task. Each day, medical practices across the United States waste hundreds of hours of human resource time simply shuttling records back and forth.
Without seeing the benefit of the electronic medical records, just the task of starting to store medical records electronically, is an immediate and recognizable benefit. Once charts are in an electronic medical format, they no longer require office space. A room full of charts will fit perfectly in a $150 Hard-Drive-hardware.
The benefit or having the access of patient charts from any computer is a time saving for office and medical staff, the thinking of hiring a new employee to handle the busy task of moving charts from place to place is not longer needed. When patients call, the information is immediately accessible from any of the computers, and there is no need to stand up or return the patient call while the chart is being pull out. The information is always 2 seconds away to access the medical records from the computer.
Adopting electronic medical record software from EncounterNotes into medical practices, bring them an immediate gain of incredible speed. In essence, all practice information is available to you immediately at any time.
