Chiropractic Economics Blog

I got passed this in an e-mail from Alex Niswander. It was basically an ad for his company but one part of it did a good job of breaking down some applicable details. Most of it is geared to make sure you are eligible for the stimulus grants that are coming sometime in the not so distant future.

Stimulus Package Overview

Disclaimer: At this time, details are very generic and open to further ruling by the commissioner in charge of project (who is not yet hired at this time). This information is our interpretation of the information available at this time.
General Information:

* There are two programs for EMR reimbursement: Medicare and Medicaid.
* Both programs include Chiropractic specialty.
* Funds become available on Jan 1, 2011, although must be already utilizing an EMR.

Medicare Program Details:

* Provider must bill over $24,000 in medicare claims during the year in order to reach full reimbursement potentials.
* Up to 44K in reimbursement is possible over a 5 year time for using an ‘electronic medical records’ system.
* Must be fully electronic by 2015 in order to avoid penalties such as reduced payment percentages on claims.
* Early adaptation of EMR beginning in 2011 receive a $3,000 bonus in year one.
* Must demonstrate meaningful use of EMR.

Medicaid Program Details:

* As a Medicaid Provider you see more than 30% Medicaid patients.
* Provider would receive 85% of EMR (electronic medical record) costs (not exceeding $25,000) in the first year.
* Provider would receive 85% of the annual maintenance costs (not exceeding $10,000).
* Must demonstrate meaningful use of EMR.

Alex’s company can be found at www.quick-charts.com