Monday, January 03, 2011

How to save $44,000 if you are a medical doctor

With the American Recovery and Reinvestment Act, qualified professionals (physicians, dentists, optometrists, podiatrists, and some chiropractors) can realize up to $44,000 in Medicare incentives (or $63,750 through Medicaid) through meaningful use of a certified electronic medical records software system, such as OpenEMR.

Medical providers who do not demonstrate 'meaningful use' of a certified EHR system by 2014 will see a decrease of 1% in their Medicare fee schedules for 2015. Medicare fee payment reductions will continue annually, up to a maximum of 5% if it is determined that total EHR adoption is under 75% of eligible providers by 2018.

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