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.