Electronic Health Records - Time is running out to demonstrate meaningful use
2014 is the last year for Medicare-eligible professionals to initiate participation in the Medicare Electronic Health Record Incentive Program.
Those who are not meaningful users of certified Medicare electronic health records (EHRs) starting this year will be subject to a payment adjustment beginning on Jan. 1, 2015. The penalty will amount to 1 percent of covered professional services under the Medicare physician fee schedule.
By demonstrating meaningful use of a certified EHR this year, first-time reporters can qualify for an incentive payment equal to 75 percent of their Medicare-allowed charges up to a maximum annual cap of $12,000. And, if they continue to meet program requirements, they may receive additional payments of up to $8,000 and $4,000 in 2015 and 2016, respectively.