GroupOne�s EHR Stimulus Financing Special
Posted on Fri, Jun 12, 2009 @ 11:36 AM
To qualify for the $44,000 in Stimulus payments under the Medicare plan, medical providers must demonstrate meaningful use of a certified EHR system starting in 2011. Implementing and demonstrating meaningful use of the EHR could take some time and thus should be started soon by most providers. This may present a financial timing problem for some providers as the need to fund the implementation of the EHR occurs prior to the receipt of the payment s under the HITECH plan.
GroupOne’s program matches the timing of the majority of the medical provider payments for our certified EHR system, eClinicalWorks, with the provider’s receipt of Stimulus /HITECH payments. Qualifying medical providers may be eligible for a program of zero payments for 90 days followed by minimal 1% of total cost payments for the next 15 months for our CCHIT certified EHR software. This payment terms are 60 months with a $1 buyout. So in a sense, the initial payments will be limited until the providers have an opportunity to receive the HITECH Stimulus payments starting in 2011. In addition, interest rates are historically low. This program should help eliminate the initial funding barrier of implementing an EHR and should facilitate provider’s timely implementation of a certified EHR system.