Jan 12 2010
Ingenix today introduced a package that includes interest-free
financing, health information technology (HIT) services and performance
guarantees to help physicians integrate HIT into their practices. The
program enables physicians to implement Ingenix CareTracker EHR, a
low-cost, full-functioning electronic health record (EHR), with no
out-of-pocket costs and no payments until 2011 when American Recovery
and Reinvestment Act (ARRA) reimbursements for EHRs begin.
“We’ve been using CareTracker for over a year, and it has created a real
improvement in our workflow, billing and management. We had a smooth
transition and started saving money immediately”
Qualifying U.S. physicians can receive an interest-free loan from
Ingenix (underwritten by OptumHealth Bank, Member FDIC) to license and
implement CareTracker EHR. The financing covers implementation and
monthly subscription costs until November 30, 2015. Qualifying
physicians can repay the loans with annual reimbursement dollars from
the incentives authorized in the stimulus bill. Under the terms of the
ARRA, physicians can receive up to $44,000 in Medicare reimbursements
over five years for implementing an EHR and demonstrating meaningful use
of the technology.
In addition to the interest-free financing, Ingenix guarantees that
CareTracker EHR will support “meaningful use” requirements physicians
must meet to be eligible for the maximum Medicare reimbursements allowed
under the ARRA. On December 30, 2009, the U.S. Department of Health and
Human Services issued proposed regulations
for meaningful use. The rules will be finalized following a 60-day
public comment period.
Overcoming the greatest barrier to HIT implementation
Cost is physicians’ top concern when considering EHRs, according to a
recent Ingenix
survey of 1,000 physicians and physician practice administrators.
More than 80 percent ranked cost as one of the greatest risks to
deploying technology in their practice. Eliminating upfront hardware and
software costs will be key to facilitating widespread adoption of EHRs.
“Ingenix is helping physicians overcome the challenge of funding their
upfront investment – the biggest barrier to implementing HIT – so they
can begin using the technology now to enhance patient care, reduce costs
and demonstrate meaningful use of EHRs in time to qualify for stimulus
funding beginning in 2011,” said Bill Miller, executive vice president
of Health Care Delivery at Ingenix. “We expect Web-based EHRs like
Ingenix CareTracker will have widespread adoption because they are
cost-effective, and easy to install and use.”
CareTracker requires no complicated client-server hardware installation
and integrates easily with all the operational functions of a physician
practice. The system optimizes administrative workflows for physician
practices and helps clinicians enter, retrieve and correlate patient
information at the point of care. Moreover, Ingenix implements system
upgrades network-wide. This enables users to take advantage of new
features or meet new reporting or quality measurement requirements
automatically.
When coupled with the practice management functionality of CareTracker
PM software – also eligible for interest-free financing – physicians can
benefit from an integrated technology suite that will help their
practices run more smoothly, connect more efficiently with payers and
other partners, and get paid more quickly.
Miller noted the combined annual subscription cost for CareTracker EHR
and CareTracker PM is less than $7,000 per physician. Depending on the
make up of their patient mix, for many physicians, stimulus funding may
cover most or all CareTracker subscription costs through the end of the
ARRA reimbursement period.
“We’ve been using CareTracker for over a year, and it has created a real
improvement in our workflow, billing and management. We had a smooth
transition and started saving money immediately,” said Dr. Pablo
Rodriguez, president and CEO of Women’s Care, a multisite OB/GYN
practice in Providence, R.I. Dr. Rodriguez shares more about his
CareTracker experience at www.youtube.com/user/IngenixCareTracker.
Source: Ingenix