Healthcare IT stocks are up and the HITECH Act is providing billions for EMR and healthcare IT. Health Information Exchanges (HIE) and Regional Extension Centers are mushrooming. If the US is in a recession, then the healthcate IT vertical market ain't participating.
The marketplace for Electronic Health Records and its sequel, consumer Personal Health Records (PHR) is a gathering storm, ready to engulf 310 million patient/consumers and their healthcare providers and staff. Throw in EDI and insurance payers, and you have one wildly interdependent healthcare delivery system. Healthcare IT service providers that offer smooth transition to EMR will be seen as trusted advisors.
And don't forget about Personal Health Records. Each patient will have access to their PHR "anywhere, anytime, on demand". Patient control and instant collaboration from many physicians can hasten and heal...fast and more efficiently.
Stay tuned.
Monday, June 7, 2010
Saturday, June 5, 2010
HITECH Overview and the Requirement of Doctors to use Electronic Medical Records
The American Recovery and Reinvestment Act of 2009 has been passed. Physicians are required to move from paper based medical charts to computerization. Sorry, docs.
The cost of incentives is estimated to be $19 billion in increased Medicare and Medicaid payments. Probably a moving target.
The Act includes a portion known as HITECH (Healthcare Information Technology for Economic and Clinical Health to encourage electronic medical records (EMR). The incentive portion starts in 2011: a physician who is a "meaningful user" of EMR is eligible to receive additional payments under the Medicare program that can extend over five years. The penalty portion starts in 2015, when physicians who are not meaningful EHR users will begin to see declines in their Medicare payments. The incentive payment schedule is as follows for encouraging EMR adoption:
2011 $18,000
2012 $12,000
2013 $ 8,000
2014 $ 4,000
2015 $ 2,000
The loger you wait, the more you lose out. Thinking of retiring or selling your practice, missing out on the whole need to participate in the HITECH program and the change to EMR? Consider this: buy a EMR in 2011 and have a fully implemented EMR in place, adding 20% to your sell price!
Under the penalty provisions, physicians who are not meaningful EHR users in 2015 will see a 1% reduction in their fee schedule amount. The reduction increases to 2% in 2016, and 3% in 2017 and each subsequent year.
As for “meaningful use”, this simply means that the EMR system must be certified by the CCHIT organization or a qualified private validation firm. The EMR must pass inspection, like your care to be recognized. EMR vendors have been paying about $30,000 for the stamp of approval. That’s an expensive stamp.
There are HUNDREDS of EMR systems and resellers to chose from. Expect phone calls.
If HHS finds that by 2017, the proportion of physicians who are meaningful EHR users is less than 75%, HHS may continue to scale back payments by 1% a year (but may not reduce payments below 95%). There will be some exceptions based on socioeconomic and geographical considerations.
To be a "meaningful EHR user", the physician must satisfy three criteria: e-Prescribing, exchanging information and sending measured/requested data to HHS.
HHS will designate the way in which a physician is recognized as a meaningful user (through attestation, submission of claims with codes indicating that a patient encounter was documented using certified EHR technology, survey responses, submission of quality reports, or other means).
The Act also authorizes state Medicaid programs to provide additional payments to physicians, at least 30% of whose patient volume is services to Medicaid beneficiaries.
In addition to HITECH, $2 billion is available as to ONCHIT Coordinator, Dr. David Blumenthal for implementation of the programs, including grants to states to establish loan programs for physicians seeking to acquire certified EHR systems., Health Information Exchanges (HIEs) and Regional Extension Centers (RECs).
Keep checking back with the gang at MyEMRchoice. The HITECH Act has all the markings of a policy that can change quicker than the weather in Texas.
The cost of incentives is estimated to be $19 billion in increased Medicare and Medicaid payments. Probably a moving target.
The Act includes a portion known as HITECH (Healthcare Information Technology for Economic and Clinical Health to encourage electronic medical records (EMR). The incentive portion starts in 2011: a physician who is a "meaningful user" of EMR is eligible to receive additional payments under the Medicare program that can extend over five years. The penalty portion starts in 2015, when physicians who are not meaningful EHR users will begin to see declines in their Medicare payments. The incentive payment schedule is as follows for encouraging EMR adoption:
2011 $18,000
2012 $12,000
2013 $ 8,000
2014 $ 4,000
2015 $ 2,000
The loger you wait, the more you lose out. Thinking of retiring or selling your practice, missing out on the whole need to participate in the HITECH program and the change to EMR? Consider this: buy a EMR in 2011 and have a fully implemented EMR in place, adding 20% to your sell price!
Under the penalty provisions, physicians who are not meaningful EHR users in 2015 will see a 1% reduction in their fee schedule amount. The reduction increases to 2% in 2016, and 3% in 2017 and each subsequent year.
As for “meaningful use”, this simply means that the EMR system must be certified by the CCHIT organization or a qualified private validation firm. The EMR must pass inspection, like your care to be recognized. EMR vendors have been paying about $30,000 for the stamp of approval. That’s an expensive stamp.
There are HUNDREDS of EMR systems and resellers to chose from. Expect phone calls.
If HHS finds that by 2017, the proportion of physicians who are meaningful EHR users is less than 75%, HHS may continue to scale back payments by 1% a year (but may not reduce payments below 95%). There will be some exceptions based on socioeconomic and geographical considerations.
To be a "meaningful EHR user", the physician must satisfy three criteria: e-Prescribing, exchanging information and sending measured/requested data to HHS.
HHS will designate the way in which a physician is recognized as a meaningful user (through attestation, submission of claims with codes indicating that a patient encounter was documented using certified EHR technology, survey responses, submission of quality reports, or other means).
The Act also authorizes state Medicaid programs to provide additional payments to physicians, at least 30% of whose patient volume is services to Medicaid beneficiaries.
In addition to HITECH, $2 billion is available as to ONCHIT Coordinator, Dr. David Blumenthal for implementation of the programs, including grants to states to establish loan programs for physicians seeking to acquire certified EHR systems., Health Information Exchanges (HIEs) and Regional Extension Centers (RECs).
Keep checking back with the gang at MyEMRchoice. The HITECH Act has all the markings of a policy that can change quicker than the weather in Texas.
Wednesday, June 2, 2010
Everything You Need to Know About EMR Adoption in 1 Minute
A baseball player has his entire career summarized on a baseball card. We will attempt to do the same thing here for Electronic Medical Records (EMR), Electronic Health Records (EHR) and Personal Health Records (PHR).
The HITECH Act calls for physicians to move from paper medical charts to EMR by 2014. Financial incentives and data management are at keys of this initiative, not the desire of most doctors. EMR is not a question of if or when.
EMR system adoption is a process, not just a product. EMR vendors once numbered in the hundreds. Massive consolidation is occuring. A EMR must show "meaningful use" as defined by CCHIT which itself may be replaced with private certification organizations.
Technology: Medical practices will have the opportunity to select either a traditional client/server EMR configuration, a web based model (ASP or SaaS) or a downloadable application streamed right to a tablet PC or iPad type device. OCR and voice features can offer patient convenience and physician efficiencies.
Estimation of the cost for a EMR system is just that-an estimate. Pricing varies wider and more often than the weather in Texas.
Successful EMR adoption and its use consists of scanning your current paper records, EMR selection and choices, compliance with time lines, secured financing, patient-physician communication portals and offering patients access to their complete Personal Health Records.
(vist the Glossar at My EMR Choice for definitions)
The HITECH Act calls for physicians to move from paper medical charts to EMR by 2014. Financial incentives and data management are at keys of this initiative, not the desire of most doctors. EMR is not a question of if or when.
EMR system adoption is a process, not just a product. EMR vendors once numbered in the hundreds. Massive consolidation is occuring. A EMR must show "meaningful use" as defined by CCHIT which itself may be replaced with private certification organizations.
Technology: Medical practices will have the opportunity to select either a traditional client/server EMR configuration, a web based model (ASP or SaaS) or a downloadable application streamed right to a tablet PC or iPad type device. OCR and voice features can offer patient convenience and physician efficiencies.
Estimation of the cost for a EMR system is just that-an estimate. Pricing varies wider and more often than the weather in Texas.
Successful EMR adoption and its use consists of scanning your current paper records, EMR selection and choices, compliance with time lines, secured financing, patient-physician communication portals and offering patients access to their complete Personal Health Records.
(vist the Glossar at My EMR Choice for definitions)
Wednesday, May 5, 2010
Next for your Mobil device: Your own Personal Health Record
So what's the next hot app for your mobile device? The answer: Your complete Personal Health Record, or PHR. And this information will be secure and available by you "Anytime, Anywhere and On-Demand".
Doctors must move your medical records from paper to Electronic Medical Records (EMR) by law and in a short timeframe. This EMR will serve to populate your PHR data.
We know that currently a PHR application sounds about exciting as watching paint dry. PHR does not have the same appeal as many of the apps available today. But really, what is more important than the life application that is your medical record? Consider:
PHR will allow for faster, accurate communication between you and your doctor. The free flow of information will benefit patients, physicians and caretakers of those with conditions. In addition, forget the redundant paperwork that accompanies every visit to a new physician. Just hand back the paperwork and hand over your PHR. Done and done. Now THAT's consumer satisfaction.
Who among us much cared about cell phones and ATM cards until they were available, but what would you do without them today?
We would like to hear your thoughts on PHR. Please send comments through http://www.myEMRchoice.com
Doctors must move your medical records from paper to Electronic Medical Records (EMR) by law and in a short timeframe. This EMR will serve to populate your PHR data.
We know that currently a PHR application sounds about exciting as watching paint dry. PHR does not have the same appeal as many of the apps available today. But really, what is more important than the life application that is your medical record? Consider:
PHR will allow for faster, accurate communication between you and your doctor. The free flow of information will benefit patients, physicians and caretakers of those with conditions. In addition, forget the redundant paperwork that accompanies every visit to a new physician. Just hand back the paperwork and hand over your PHR. Done and done. Now THAT's consumer satisfaction.
Who among us much cared about cell phones and ATM cards until they were available, but what would you do without them today?
We would like to hear your thoughts on PHR. Please send comments through http://www.myEMRchoice.com
Monday, April 26, 2010
Why Shop for Electronic Medical Records in 2010?
Why should you shop for and evaluate EMR systems in 2010?
1. EMR Software Stimulus. Up to $44,000+ in Medicare/Medicaid reimbursement payments for adopting a "meaningfull use" a certified electronic medical records software system by 2014. Meaningful use is a certification by CCHIT, with an option to have a private certification.
2. Electronic Prescribing (eRx). With bonuses of 2% on allowable Medicare Part B charges in 2009 and 2010 and penalties beginning in 2012, your practice will save by adopting an EMR with electronic prescribing.
3.EMR Software Tax Deductions. The US tax code Section 179 deduction. This means that the write-off amount is approx $250,000 with a bonus 50% depreciation.
4. Benefits of Electronic Medical Records. The HITECH incentives, substantially reduced initial capital expense with a Off-Premise(web-based) EMR system and the efficiency cost savings are acheivable.
5. Retiring by 2014? Then get a low cost EMR system in place NOW and add 10% to your practice sale price by offering a fully computerized EMR system and trained staff.
1. EMR Software Stimulus. Up to $44,000+ in Medicare/Medicaid reimbursement payments for adopting a "meaningfull use" a certified electronic medical records software system by 2014. Meaningful use is a certification by CCHIT, with an option to have a private certification.
2. Electronic Prescribing (eRx). With bonuses of 2% on allowable Medicare Part B charges in 2009 and 2010 and penalties beginning in 2012, your practice will save by adopting an EMR with electronic prescribing.
3.EMR Software Tax Deductions. The US tax code Section 179 deduction. This means that the write-off amount is approx $250,000 with a bonus 50% depreciation.
4. Benefits of Electronic Medical Records. The HITECH incentives, substantially reduced initial capital expense with a Off-Premise(web-based) EMR system and the efficiency cost savings are acheivable.
5. Retiring by 2014? Then get a low cost EMR system in place NOW and add 10% to your practice sale price by offering a fully computerized EMR system and trained staff.
Friday, April 16, 2010
Will Patient PHR be populated by EMR?
As Electronic Medical Records (EMR) and Electronic Health Records (EHR) become more accepted and widely used by physicians to replace paper charts, the rise of Personal Health Records (PHR) is the next hot "killer app".
Patient PHR, soon to be available "Anytime, Anywhere, On Demand" will be best served if the data contained is being provided by a physicians EMR system. This will keep consistent, up to date data for docs and pconsumers alike. Other benefits of current PHR includes the ability for patients and doctors to have a meaningful exchange of information. That is, some things should be noted in a Medical Record that are not, and some information in a patients record is note disclosed to the patient.
In addition, patients will be able to monitor the medication and conditions of loved ones who need assistence. Insurance companies can have a true reading of a consumer to provide the best coverage. Any all of that redundant paperwork for new enrollments will go away.
Initially, the basic data contained in a patients PHR include Conditions, Allergies, Medications, Procedures, Immunizations and Test results.
Patient PHR, soon to be available "Anytime, Anywhere, On Demand" will be best served if the data contained is being provided by a physicians EMR system. This will keep consistent, up to date data for docs and pconsumers alike. Other benefits of current PHR includes the ability for patients and doctors to have a meaningful exchange of information. That is, some things should be noted in a Medical Record that are not, and some information in a patients record is note disclosed to the patient.
In addition, patients will be able to monitor the medication and conditions of loved ones who need assistence. Insurance companies can have a true reading of a consumer to provide the best coverage. Any all of that redundant paperwork for new enrollments will go away.
Initially, the basic data contained in a patients PHR include Conditions, Allergies, Medications, Procedures, Immunizations and Test results.
Monday, April 5, 2010
EMR and PHR must share six data points:
Regardless of the components called for in "meaningful use" Electronic Health Records #EHR, a paperless charting system should seamlessly update, import and export patient-friendly Personal Health Record data, including:
Condition
Allergies
Medications
Procedures
Immunizations
Test Results
These 6 datasets should be readily available to the patient/doctor "anywhere, anytime, on-demand".
Consumers ping Facebook and Twitter all day long, but what is more important than your own Personal Health Record information?
Condition
Allergies
Medications
Procedures
Immunizations
Test Results
These 6 datasets should be readily available to the patient/doctor "anywhere, anytime, on-demand".
Consumers ping Facebook and Twitter all day long, but what is more important than your own Personal Health Record information?
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