Healthcare Practice Strategies – Fall 2012 - EHR Money Is Flowing — Are You Tapping in?
Physicians who have successfully attested to the Centers for Medicare and Medicaid Services’ meaningful use requirements are receiving incentive payment checks (often substantial) under the Medicare Electronic Health Record (EHR) Incentive Program.
During their first year in the program (2011 or 2012), eligible providers can receive incentives of up to 75 percent of their total annual allowable Medicare charges, up to an $18,000 ceiling. CMS offers these reminders about bonus payment specifics:
- Bonus payments will not be made until the eligible professional meets the $24,000 threshold in allowed Medicare charges.
- Payments will be made approximately four to eight weeks after program requirements are met.
- Participants will receive their Medicare bonus payment the same way they receive payment for Medicare services — either by electronic funds transfer or paper check.
- Payments to Medicare providers will be made to the taxpayer identification number selected during registration for the incentive program.
- CMS will deposit incentive payments in the first bank account on file, and the payment will appear on the bank statement as “EHR incentive payment.”
Physicians are encouraged to contact the CMS EHR information center at (888) 734-6433 with any questions. Note that CMS urges physicians to refrain from contacting Medicare administrative contractors, Medicare carriers or fiscal intermediaries regarding incentive payments because those entities are not responsible for payment.
The agency also invites physicians who are not yet participating in the EHR incentive payment program to review a checklist of participation requirements at https://ehrincentives.cms.gov.
Healthcare Practice Strategies – Fall 2012 Issue