VeinSpec

EMR INCENTIVES

ADOPTION OF EHR TECHNOLOGY

The American Recovery and Reinvestment Act of 2009 (H.R.1 , Section 4201) has added an incentive to eligible Medicare providers for adoption and meaningful use of Certified EHR Technology. The payments begin in the year 2011 in an amount up to $18,000, with continuing annual payments of $12,000, $8,000, $4,000 and $2,000 for years 2012 through 2015 respectively. A single professional could therefore receive up to a total of $44,000 for adopting an EHR early, and could risk actually having their Medicare payments reduced by up to 5% if they fail to use EHR's by the year 2015.

IRS SECTION 179 EXPENSE WRITE-OFF

The Economic Stimulus Act of 2008 extends the expensing of qualifying property (whether purchased outright, leased or financed) up to $250,000 for the years 2009 only. The 'Hiring Incentives to Restore Employment Act' of 2010 passed on a bipartisan Senate vote of 68-29 extending the enhanced Section 179 deductions of 2008 / 2009 into 2010. Businesses can now write-off up to $250,000 of qualified equipment and software during the 2010 tax year - subject to a phase-out if a business has capital expenditures exceeding $800,000. This expense amount will fall back to $25,000 for years 2011 and beyond.

e-PRESCRIBING

For 2009, eligible professionals will receive e-prescribing incentives in the amount of 2% of the total estimated allowed charges for professional services covered by Medicare Part B during each reporting period (one year). The incentive will remain 2% for the year 2010, will drop to 1% for years 2011 and 2012, and again to .5% for the year 2013.