2012 is the last year in which eligible professionals (EPs) can attest a 90 day reporting period to potentially receive full incentive payments. However, there are some differences between Medicare and Medicaid incentives. The Meaningful Use standards are the same, however the payment plan and schedule differs.
If a Medicare EP begins reporting in 2012, they can receive a total of $44,000 over the next five years. Beginning in 2015, CMS will decrease reimbursements of EPs who do not meet Meaningful Use standards.
For our visual friends, see the following chart on Medicare payment:
Courtesy of tsihealthcare.com/stimulus
If a Medicaid EP begins reporting in 2012, they can receive a total of $63,750 over a period of 6 years of their choosing with 2016 as the last year to initiate the program. As of now, CMS does not predict they will penalize EPs who do not meet Meaningful Use standards in the future.
Medicare EPs are paid their first incentive payment after an initial 90 day reporting period. If this occurs in 2012, practices will receive $18,000 per EP. However, Medicaid EPs receive their first incentive payment before their attestation period begins and receive $21,250. Thus far in the practices I’ve worked with, initial Medicaid payments have taken 8 weeks from registration to receipt of payment.
Within the first year, attestation is any continuous 90 day period. So get started and register for the incentive program, especially if you’re a Medicaid EP. NextGen users: Be sure to run MU Crystal Reports early to identify areas of improvement before it is too late to increase your low percentages.
TSI Healthcare is dedicating time and support to assist with Meaningful Use attestation. We’ve begun working with our clients through TSI Healthcare hosted webinars, knowledgeable staff, and further education materials, we walk our clients through the incentive program process being sure to achieve Meaningful Use success!
If you are a TSI Healthcare client, give us a call! Our team of experts is ready to help you hit the ground running. We’ve been reaching out to clients over the past year, and those that are eager to dive in head first can take advantage of our “TSI Healthcare Meaningful Use Analysis” to streamline your path to payment.
For some TSI Healthcare Meaningful Use Resources:
Register for CMS Meaningful Use Incentive Program here: https://ehrincentives.cms.gov/hitech/login.action
