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Tri-State REC: An Overview of the Costs and Benefits of Adopting Health IT

Tri-State REC: An Overview of the Costs and Benefits of Adopting Health IT. Keith Hepp Chief Financial Officer HealthBridge. Definition. Meaningful use is defined as: Use of a certified EHR in a meaningful manner (ex: e-prescribing)

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Tri-State REC: An Overview of the Costs and Benefits of Adopting Health IT

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  1. Tri-State REC: An Overview of the Costs and Benefits of Adopting Health IT Keith Hepp Chief Financial Officer HealthBridge

  2. Definition Meaningful use is defined as: • Use of a certified EHR in a meaningful manner (ex: e-prescribing) • Use of certified EHR technology for electronic exchange of health information • Reporting on clinical quality and other measures.

  3. Meaningful use  an EHR. To receive incentives, for example, practices have to use technology for a variety of uses: • Medication and allergy lists • E-Prescribing • Access to lab results • Electronic orders • Submitting claims • Checking insurance eligibility • Clinical summary to other providers and patients • Clinical decision support • Health information exchange • Quality reporting to the federal government • Among others…

  4. Hard Costs • Hardware – computers, handheld devices, printers, etc. • Software - EHR software, other software, customization • Network and internet connectivity • Staff Time – Planning, project mgmt, vendor selection, purchasing, contracting, etc. • Legal costs - contracts • Facilities costs – changes to site, furniture • Staff & User Training • Customization & configuration by vendor • Data collection and conversion of older data • One-time and ongoing Interface costs with external data sources

  5. Harder to quantify • Transition costs - Reduction in productivity for 3-6 months as staff learns new system • Morale - Workplace satisfaction may drop with such a huge change • Ongoing training and support needed

  6. Potential Benefits • Revenue Increases • Increased reimbursement • Higher patient volume • Faster revenue cycle, fewer errors in claims • Productivity improvements – process automation, fewer phone calls • Overhead cost reduction • E.g., Lower lease due to less record storage • Higher quality care and greater customer satisfaction

  7. Medicare Incentive Funding REC support is provided under cooperative agreement 90RC0025/01 from the Office of the National Coordinator for HIT, US Dept. of Health and Human Services .

  8. Medicaid funding higher REC support is provided under cooperative agreement 90RC0025/01 from the Office of the National Coordinator for HIT, US Dept. of Health and Human Services .

  9. Medicaid Patient Thresholds

  10. Other Incentives

  11. Practical Guidance • Need to capture all the hard and soft costs of EHR adoption • Capture all of the revenue factors • Consider mix of patients – Medicaid funding higher but have to meet thresholds • Biggest incentives come in first few years but your practice may not be ready for such a large leap • Consider if you can double dip with other incentive programs

  12. Questions? The Tri-State REC can help! www.healthbridge.org rec@healthbridge.org 513-469-7222

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