The EHR Incentive Program, commonly referred to as Meaningful Use, provides incentives and benefits for eligible professionals who wish to adopt and implement an EHR system in their practice.
The Medicare EHR Incentive Program launched in 2011, releasing large incentive payments for those eligible professionals who decided to start early. These incentive payments will continue until 2016, with maximum payouts as large as $44,000. On the other hand, penalties for those eligible professionals who do not demonstrate meaningful use will incur a payment reduction of 1% starting in 2015.
The last year to begin participation in the Medicare EHR Incentive Program is 2014. To qualify, eligible professionals must demonstrate meaningful use for all the years they participate in the program. The reporting period for the first year of participation is any continuous 90-day period within the calendar year. For all years following, the reporting period is the entire calendar year.
Below are several of 2014’s important deadlines to remember:
- Sept. 30: End of 2014 fiscal year and end of the 2014 reporting period for eligible hospitals
- Nov. 30 at 11:59 p.m. ET: Attestation deadline for eligible hospitals for the 2014 program year
- Dec. 31: End of 2014 calendar year and end of the 2014 reporting period for eligible professionals
For more information regarding Meaningful Use, contact Natalie Fisk at [email protected] or by phone at (404) 633-3777 x116.