EHR financing offered

Feb. 2, 2010

A number of healthcare technology vendors are now offering free financing for electronic health record (EHR) purchases, in an effort to increase adoption of electronic records. Ingenix introduced a package that includes interest-free financing, health information-technology services and performance guarantees.

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.

A number of healthcare technology vendors are now offering free financing for electronic health record (EHR) purchases, in an effort to increase adoption of electronic records. Ingenix introduced a package that includes interest-free financing, health information-technology services and performance guarantees.

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.

Allscripts also is in the financing game, introducing the Allscripts Stimulus Program, for physicians to purchase and rapidly deploy EHRs that will qualify for significant federal incentives. The program provides physicians with a guarantee that the Allscripts EHR they select will meet the EHR certification criteria provided by the U.S. Department of Health and Human Services. The program provides no payments for software for the first six months on purchases of its EHR solutions, as well as new programs focused on faster implementations.

Allscripts will offer the program on all new purchases of its EHR solutions, enabling its clients to obtain financing from Allscripts’ preferred banking partners. Physicians can elect to make no payments on software for up to six months, followed by monthly payments over the time period that works best for them.

The Ingenix program enables physicians to implement Ingenix CareTracker EHR with no out-of-pocket costs and no payments until 2011 – when American Recovery and Reinvestment Act (ARRA) reimbursements for EHRs begin.

Qualifying U.S. physicians can receive an interest-free loan from Ingenix to license and implement the EHR. The financing covers implementation and monthly subscription costs until Nov. 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.

Ingenix also guarantees that its EHR will support meaningful-use requirements.

IBM, Cardinal Health and Practice Fusion have similar offerings.

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