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Electronic Health Records System

What’s your implementation plan?

At Lafayette Ambassador Bank, we listened to the needs of physicians in our community. They’re busy; and they want a simple, easy solution to implement electronic health records (EHR), while preserving their cash flow.

The 2009 economic stimulus package (HITECH Act) passed by the U.S. Congress aims at incenting more physicians to adopt EHR. The act promises incentive payments to those who adopt and use “certified EHRs” and, eventually, reduces Medicare payments to those who do not.

In order to receive the EHR stimulus money, the act requires doctors to also show “meaningful use” of an EHR system:

  • Year 1: Targets the actual conversion to electronic records.
  • Years 2-5: Geared to integration and connectivity with hospital and outpatient systems.
Female doctor and young patient


 

Lafayette Ambassador Bank is Ready to Help You

Our expertise and quick turnaround can accelerate the adoption of EHR at your office.
Learn more about our Health IT Financing Package.

Will your practice be prepared?

Because of the backlog in EHR implementations even today, experts are advising that practices not delay in purchasing and setting up a system. Doing so might mean that you lose out on the first and largest of the payments scheduled for 2011.

In addition to the financial incentives, reduced costs and improved patient care, EHR systems can offer the added security of disaster recovery and back-up devices to ensure a continuity of care for your patients.

The potential for significant cost savings is available through the government if you adopt an Electronic Health Record System. The largest incentives will be paid to physicians who acquire systems early and start using it proficiently.

By acting now to search out and implement a certified EHR, your practice will be prepared to collect data and show proof of meaningful use when the incentive period starts in 2011.


Cost to implement an EHR system varies with providers, but on average the cost has come in at approximately $25,000 initially per doctor. In addition to this, there is typically a monthly fee for maintaining the records, support, etc. which can run $500 per month. Keep in mind that in addition to the costs associated with implementing a system, there is a dramatic change in how the practice and doctors function in delivering care to their patients. Typically, it takes about a year for an office to adapt to the new systems and workflows. This is one of the reasons we've designed a package to cover 100% of the initial cost per doctor, to provide added relief when the practice might be paying the additional monthly costs, as well as, possibly having revenues temporarily impacted by the changes.

The American Recovery and Reinvestment Act of 2009 provides for financial incentives to promote investment in healthcare IT. You should consult with your accountant or tax /professional for additional details or information on the EHR program as it relates to your situation.