Medical Working Capital Loans For The Electronic Medical Records Mandate

By Author: William Brewer
Total Articles: 6
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As a health care professional, it’s likely you’re already aware of the upcoming Electronic Medical Records (EMR/EHR) mandate of 2014/2015.

There are a few key areas that are important to remember, regarding this mandate, which we’ll cover in this article - as well as how you can get the financing you need to make the transition.

To start with, the Electronic Medical Records Mandate (2014/2015) is mainly focused on making sure all patients’ medical records are converted to and stored within an electronic format, by 2014.

This initiative is officially known as the American Recovery And Reinvestment Act (ARRA).

The Main Purpose Of Mass Adoption Of Electronic Medical Records

As more practices adopt the use of electronic medical records, such technologies will gradually form the foundation of exchanging state health information. The end goal is creating a national network, which would allow any doctor or hospital to acquire information and, ultimately, improve the quality and efficiency of its patients’ care.

The Benefit Of The Electronic Medical Records Mandate

The ...
... plus side of this mandate, is that it’s focused on building more funding and the addition of incentives for those who are ready to adapt their practices for EMR and, additionally, abide by “meaningful use”.

From the CMS.gov website:

“The Medicare EHR Incentive Program will provide incentive payments to eligible professionals, eligible hospitals, and CAHs that demonstrate meaningful use of certified EHR technology.

Eligible professionals can receive up to $44,000 over five years under the Medicare EHR Incentive Program. There's an additional incentive for eligible professionals who provide services in a Health Professional Shortage Area (HSPA).

To get the maximum incentive payment, Medicare eligible professionals must begin participation by 2012.”

The Downside To The Electronic Medical Records Mandate

As also mentioned on the CMS.gov and many other resources you may encounter, the downside of the mandate is that from the year 2015 and onward, “Medicare eligible professionals, eligible hospitals, and CAHs that do not successfully demonstrate meaningful use will have a payment adjustment in their Medicare reimbursement” (cms.gov).

How IBF Commercial Loans Can Help You Get Your Share Of The Stimulus And Avoid Penalties To Your Medicare Reimbursement

IBF Commercial Loans offers working capital loans for healthcare professionals and medical practices and can help get you the funding you need to purchase EMR equipment you need.

In fact, you can use the proceeds from the loan for almost any purpose, including...

- Personal needs...
- Debt consolidation...
- Practice expansion...

...and just about anything else.

Loans range anywhere from $15,000 to $250,000, with up to 84 months to pay and the rates are very competitive.

For a full list of the types of medical professionals we can finance, more information regarding how everything works, and the option to request a call or application, please visit this page on our site today.

William Brewer is the founder and CEO of Industrial & Builders Finance, LLC. A company that helps business owners with any credit status find the capital they need to start, grow, and expand their business. Bill and his experienced team can help you get money for your business, the fast and easy way. Visit http://ibfcommercialloans.com to learn more about how you can get financing for your business today.