Benefits Of Using Electronic Health Records

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Meaningful Use – the incentive program with the intention of helping physicians provide better care to their patients through financial rewards and punishments. Those Eligible professionals (EPs) who choose not to demonstrate meaningful use of electronic health records (EHRs) are about to face a 1% penalty in their Medicare reimbursements. These penalties will increase by 1% each year until 2019 when they finally cap-off at 5%. And just to make it that much more aggravating, EPs won’t get away with a one-time demonstration, they must continue to demonstrate meaningful use each and every year through 2019 to avoid these penalties.
The Centers for Disease Control and Prevention has reported that, by the end of 2013, 78% of office-based physicians were using some form of EHR and 69% were planning on applying for meaningful use incentives.
Meaningful Use and Its Effects on RCM
Since the advent of value-based (VB) care and reimbursement models, more and more physicians are being held accountable for the value of the services they provide instead of the services themselves. The big question of course is, how will meaningful use affect the Revenue Cycle Management systems and operational processes that have been in place and supporting a fee-for-service structure for decades?
Additional Costs
Let’s start with the most obvious effect of meaningful use on RCM which is the added high cost providers are expected to absorb to pay for extensive training. An InformationWeek survey
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