For doubtful physicians who are sitting on the sidelines asking “Is this program real?” and “Have other physicians collected payments?” The answers are yes. The next question is “Well, how do I get started?” This short guide will help you plan ahead so you can meet the key milestones and deadlines to earn maximum incentives and avoid paying penalties.
Started in early 2011, the Medicare and Medicaid Electronic Health Records (EHR) Incentive Programs provide incentive payments to eligible professionals to adopt, implement, upgrade or demonstrate meaningful use of certified EHR technology. In order to take advantage of this new program, the below key milestones and dates must be understood and acted upon.
Developed by CMS (Centers for Medicare & Medicaid Services), this milestone timeline starts in January 2011 when registration for the program begins and ends in 2021 when the last EHR incentive payments will be allocated. This chart provides a general overview of the entire program with only the top-level dates marked. All participating physicians should understand these key key dates and take necessary action to ensure they receive their maximum incentive payments.
Between 2011-2016, Medicare Eligible Providers (EPs) can adopt certified EHR technology and receive a maximum incentive of $44,000 over five years. During the first year of EHR adoption (2011 or 2012), Medicare EP’s are eligible to receive a first year incentive payment of $18,000. Under Medicare, during the first year the EHR reporting period is a continous 90-day period, so an EP must meet the meaningful use requirements for 90 consecutive days within their first year to qualify for their incentive payment. In the following years, the EHR reporting period will be the entire year. For more information on demonstrating meaningful use, click here.
Below are key dates from the Centers for Medicare Services for all Elgible Providers. Planning for these dates and making sure your practice is on-track to hit the key milestones play an integral part in receiving your maximum payment incentive and avoid paying penalties. Key dates include:
Reporting year begins for eligible professionals.
Registration for the Medicare EHR Incentive Program begins.
Attestation for the Medicare EHR Incentive Program begins.
EHR Incentive Payments expected to begin.
Last day of the federal fiscal year.
Last day for the eligible professionals to begin their 90-day reporting period for calendar year 2011 for the Medicare EHR Incentive Program.
Reporting year ends for eligible professionals.
Last day for eligible professionals to register and attest to receive an Incentive Payment for calendar year (CY) 2011.
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