First Year of Meaningful Use
Maximum Possible Medicare Incentive
*$15,000 LOSS in possible incentives if you WAIT till 2014
BOTTOM LINE: START THIS YEAR
Waiting till 2014 to begin means you could forfeit $15,000 of potential incentive money. To avoid this, start TODAY in 2013 and attest for 90 days of ‘meaningful use’. Don’t leave this money on the table.
NEW: CMS EHR Participation Timeline
CMS has posted a new interactive resource that allows EPs to determine the years in which Stage 1, Stage 2, and Stage 3 of meaningful use will meet based on the first year of participation.
My EHR Participation Timeline
To begin, choose either the Medicare or Medicaid EHR Incentive Programs. Then select your first year of participation in the program you choose.
Other information available on the timeline:
- Length of time required in each stage to demonstrate meaningful use
- Maximum incentive payment potentially receive each year
- Total incentive payment over course of the program based on first year of participation
MEDICARE EHR INCENTIVE PROGRAM RECAP
- Eligible professionals (EPs) who demonstrate meaningful use can earn up to $39,000 if the eligible professional qualifies to receive first payment in 2013.
- Medicare EPs must successfully demonstrate ‘meaningful use’ all years of participation.
- The reporting period for the first year is any continuous 90 days during the calendar year. All subsequent years, the reporting period is the entire calendar year.
- EPs who do not successfully demonstrate meaningful use prior to 2015 will incur a payment adjustment starting at 1% levied in 2015 and increasing each year that meaningful use is not successfully demonstrated. The cap on the payment adjustment is 5%.
MEDICAID EHR INCENTIVE PROGRAM RECAP
- The Medicaid EHR Incentive Program will continue to pay incentives through 2021.
- EPs can participate for 6 non-consecutive years.
- EPs can potentially gain higher incentive payments under the Medicaid EHR Program – up to $63,750 over 6 years.
- Medicaid EPs can adopt, implement, or upgrade to a certified EHR in their first participation year to receive the incentive. All subsequent years, EPs will need to successfully demonstrate meaningful use.
- EPs will not be subject to a payment adjustment under the Medicaid program. However, if EPs also see Medicare patients then a payment adjustment to Medicare reimbursements starting in 2015 will be incurred if meaningful use is not successfully demonstrated prior to 2015.
If you have not purchased an EHR don’t wait any longer! As the deadline dates of participation draw near, our implementation calendars are filling up with clinics not wanting to leave this $15,000 on the table! Call today to schedule your demonstration and to learn how your clinic can join many other MediSYS clients who combined have collected over $4 million in incentive money!