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Federal EHR Incentive Details

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    CEO Blog      

The following highlights portions of proposed HITECH rules.
Check back for updates regarding final regulations.

HITECH
A Transforming (and Challenging) Event

Last year, two major studies showed that the cost of electronic health record (EHR) technology was among the major barriers to its adoption by US physicians.  Indeed, the New England Journal of Medicine reported that 66% of respondents cited cost as the primary reason they had yet to venture into the world of EHRs. 

Then, on February 17th, 2009, President Obama whisked away this financial hurdle with the stroke of a pen when he signed the HITECH Act.  Over the next six years, US physicians can recognize up to $44,000 in federal incentives for implementing and “meaningfully using” an EHR.  These incentives will more than pay for AllMeds’ specialty EHR solution. 

The cost barrier has finally fallen!  Almost.

Financial challenges still exist and AllMeds is working quickly and strategically to help physicians successfully navigate the new waters stirred by President Obama’s pen:

 
   

EMERGING DETAILS 
As AllMeds’ current CCHIT certification attests, we are committed to maintaining our position at the cutting edge of EHR technology and national requirements.  Regarding HITECH, we continue to stay abreast of new developments in the law through our positions with industry groups as well as direct contact with representatives in Washington, D.C.  Development activities ensure our certification status and our training, implementation/support, and sales teams are ramping up to meet needs, as they grow.

FINANCING
EHR incentive payments are months away.  However, the purchasing and implementation of EHR solutions, a process that can take months, must be accomplished as soon as possible.  We recognize that many practices, like other businesses in America, are struggling under the weight of the recession.  Many practices need assistance to bridge the gap between implementation and incentives.  With that in mind, AllMeds has developed innovative financing measures to assist physicians meet their EHR goals in time for HITECH’s earliest and maximum payments.  Our “$0 Out-of-Pocket for 12 Months” program relieves practices of immediate cash-flow concerns related to the purchase of an EHR.  Such a program keeps the cost barrier where HITECH left it: on the ground.

EDUCATION
Prospective EHR Owners: HITECH educational materials can be found on AllMeds’ primary site, as well as information regarding financial programs we’ve designed to enable their transition to EHRs.  Our sales team is kept updated on new developments through regular meetings and internal publications, ensuring that each representative can explain the law’s nuances to current and future prospects.

AllMeds Current EHR Customers:   With an industry-leading 94% customer retention rate, it’s clear that AllMeds knows how to take care of our customers.  Unfortunately, many owners of the other EHRs will find themselves “alone in the dark” in the next few months, while their vendor chases after HITECH-inspired prospects.  Such will not be the case at AllMeds.  As a provider with nearly 12 years of service to customers, AllMeds feels it’s important to shepherd those who have already championed electronic record solutions through the federal maze.  Our recent user conference featured a town hall meeting, at which common questions were answered and concerns were addressed.  We also employ our customer-based website to provide a centralized location for the latest news and advisories regarding HITECH.  AllMeds’ large and loyal customer base will find themselves well-positioned for the incentives.

CONCLUSION
Like most other EHR providers, AllMeds views HITECH as an extremely positive development for our industry, as well as a large step toward providing a more efficient and safe healthcare environment in the US.  The challenges pale in comparison to the upside all players in the healthcare drama will experience.

However, it’s vital that EHR vendors don’t lose sight of the needs of individual customers while working to corral the stampede of thousands of new customers, who are inevitably just around the corner.  Keeping up-to-date on emerging trends and requirements, providing helpful financial mechanisms, and educating physicians and administrators are vital activities in which every responsible EHR provider must participate. 

As business partners, our goal should not be to secure “all customers at any cost.”  Rather, it should be to engage in a mutually beneficial relationship with customers who acquire the solution that is right for their individual and specialty-specific needs.  For 12 years, AllMeds has called that behavior “business as usual.”

 
 
 

William Rust, CEO
AllMeds Inc.

 
   
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