The American Recovery and Reinvestment Act (ARRA), signed into law by President Obama in February 2009, is a $787 billion stimulus package that includes the Health Information Technology for Economic and Clinical Health Act (HITECH Act), which directly and positively impacts growth for technology suppliers in the healthcare information technology (HIT) sector.
The Stimulus and HIT
Included in the Act is more than $60 billion in funding allocated to HIT, which includes significant financial incentives through Medicare and Medicaid to hospitals and physicians who adopt and use certified electronic health records (EHR), such as those provided by QSI’s NextGen Healthcare and QSIDental™ Web units.
Physicians, physician assistants, nurse midwives, nurse practitioners, and dentists are eligible for $40,000 - $65,000 in funding for demonstrating that they are meaningfully using EHR. Federally qualified health centers and other non-profit organizations are eligible for funding through the Medicaid program. Practices that fail to implement EHR will be penalized over time with decreasing Medicare and Medicaid payment. In other words, medical and dental practices that adopt the QSI suite of clinical applications, including EHR, can access those funds after demonstrating “meaningful use.”
To access stimulus funds, it is not enough just to adopt EHR; the EHR technology must meet certain criteria and physicians must be able to show meaningful use of their EHR system.
Specific Criteria for EHR:
- CCHIT Certified® 2011 Certification*
- ePrescribing Functionality
- Interoperability and Communication with External EHR Systems
- Clinical Quality Reporting
Aside from offering the ability to leverage more than 35 years of experience from an unparalleled pioneer in the HIT sector, QSI brings a number of other benefits for practices that can be eligible for stimulus funds:
- Full suite of Practice Solutions to streamline and automate administrative and clinical functions, such as billing and scheduling software.
- Software as a Service (SaaS) solutions, which keeps information secure, reduces cost, and impoves HIPAA compliance.
- Stimulus consulting and resources.
- Unprecedented financing offers to help reduce upfront costs.
Contact QSI to find out how to best capitalize on your Stimulus opportunities with our revolutionary suite of medical and dental practice management solutions.
*CCHIT Certified® is a Registered Mark of the Certification Commission for Health Information Technology.