Archive | Show Me The Money RSS feed for this section

Doctors Need More Convincing To Support Home Care Device

9. June 2010

0 Comments

Doubt over financial viability could be the only thing holding them back. Home monitoring devices could be the next big thing in health care, but the technology won’t catch on unless doctors get a more lucrative financial incentive for using the technology.

Continue reading...

Poll Finds Dramatic Impact of Telehealth on Health Care

9. June 2010

0 Comments

Respondents fear unresolved reimbursement issues could be a barrier. The use of telehealth technology will have a positive impact on the health care industry over the next 10 years, a poll by Intel suggests. Eighty-nine percent of the health care decision makers polled put their bets on the technology, but also expressed some reservations, including the reluctance of patients and caregivers to try it, and the issue of reimbursement.

Continue reading...

Use an EHR System to Your Billing Advantage

19. May 2010

0 Comments

Upfront costs could give way to savings in many areas, but do your homework first, and focus on balance. If your medical practice has been considering the switch to an electronic health records (EHR) system, you may have heard how one can improve the efficiency of your billing processes, but you might also be frightened by the significant upfront costs. So how do you balance the benefits with the expense? Follow these experts’ advice on how EHRs might benefit the key areas of your practice.

Continue reading...

Chosen Communities to be ‘HIT’ with $220M in Grants

12. May 2010

0 Comments

Beacon funding program to kick off when 130 applicants are chosen. Fifteen lucky communities will be awarded a total of about $220 million in grants for health IT infrastructure, national coordinator for health IT David Blumenthal, MD has announced. The grants will come from the Beacon Community program, which provides funding to communities to build and strengthen their HIT infrastructure and exchange capabilities. The chosen communities will have to “pay it forward” by achieving measurable improvements in health care quality, safety, efficiency, and population health — and then sharing lessons learned.

Continue reading...

Will the Feds Use EHR Taxes to Raise $20B HIT Fund?

5. May 2010

0 Comments

Medical device tax could pose big costs for consumers.   Now that the $787 billion American Recovery and Reinvestment Act of 2009 (ARRA) includes approximately$20 billion for healthcare IT, the administration is starting to throw a lot of money around. Just where is that $20 billion coming from? Some industry folks think it could come in the form of a new tax on medical devices. In a recent post on the Health Data Management Blog, Editor-in-Chief Greg Gillespie spotlights this new tax – a 2.3 percent excise tax on medical devices set to go into effect in 2013. He says this figure hasn’t received much exposure in the media because it doesn’t sound like much – unless you’re in the medical devices market. The tax could generate almost $2 billion every year, says Gillespie.

Continue reading...

Veteran Affairs: Big Spender, Huge Saver

28. April 2010

0 Comments

Study finds health IT investments worth $3B savings. The Department of Veterans Affairs (VA) may have shelled out billions of dollars to jump onto the health IT bandwagon, but a recent study claims the move has a big payback. As the private sector races to join the electronic health record zeitgeist, it might be worth studying how the VA has done it. The VA system, called Vista (for Veterans Health Information Systems and Technology Architecture), yielded $3.09 billion in cumulative benefits net of investment costs by 2007, says a team from Center for IT Leadership at Partners Healthcare in Charlestown, MA, who authored the study.

Continue reading...

Health Care Players Agree on EHRs’ Bright Future, Disagree About Timeframe

14. April 2010

0 Comments

“How soon” depends on effectiveness of federal stimulus, experts say. The “meaningful use” debate continues to make waves as practices grapple with whether or not they qualify for sizable financial incentives. The federal stimulus bill allots approximately $19 billion in Medicare and Medicaid incentives for physicians, hospitals and other healthcare organizations not only to adopt certified EHRs but also to use them in a meaningful way. Early adopters have been promised bonuses, but these bonuses will turn into penalties for players who do not act fast enough, as a recent post on American Medical News reminds us. Where is your practice in terms of a timeline? Will you get the carrot or the stick?

Continue reading...

5 Reasons Why ‘Getting Technical’ With Your Patient Records Pays Off

22. March 2010

0 Comments

Not an EP? Here are other ways EMR can save you cash if you know the ropes. If you haven’t witnessed or lead a conversion from paper records to an electronic medical record (EMR) system, you’re at least aware that the process is a huge undertaking — that often results in even lower productivity and more confusion. So, is making the change really worth it? Experts agree that yes, going electronic is worth it. Here are a few reasons why: 1. You Open More Cash Inlets Many research studies pull their data via electronic records. So, if you can’t tune in to participate, opportunities for cash perks will fly by. “Grant money and incentive programs are available, for example, and they want data in the electronic form,” points out Francine Wheelock, PT, MPA, manager of clinical systems for MaineGeneral Health. Just look at the nationwide push for value-based purchasing and outcome…

Continue reading...

Want Physicians to E-Prescribe? Give Them Dollar Incentives

21. March 2010

0 Comments

Study: Physicians are no big fans of electronic prescriptions. Tailored incentives may drive physicians to adopt electronic prescriptions more, according to a study conducted which measured the use of stand-alone e-prescribing (SEP) in a health-plan-sponsored environment. The findings appear in a report published by the American Journal of Managed Care (AJMC) on March 9. The study was designed to know how much the primary care physicians (PCPs) would use SEP, and to determine which physician and patient characteristics were associated with higher rates of each.

Continue reading...

Overcome These Hurdles in Early EHR Adoption

17. March 2010

0 Comments

While 2015 and its promise of loads of cash for providers who adopt EHR technology seems right around the corner, a close look at providers’ IT capabilities reveals how far they have to go in order to be prepared for the high demands EHR will place on their systems. The “rush to deploy EHRs could lead to administrative complications, formatting problems, errors and interoperability glitches,” according to a recent BusinessWeek series that examines some of the technical issues accompanying the rollout of EHR in providers’ offices across the country. As of last year, only 10% of U.S. health care facilities were using EHRs, according to the article, but the feds want half of them on board by 2014. If you’re aiming to be in that first half, read on to learn about some of the hurdles you’ll need to overcome …

Continue reading...