EMR Companies See a Huge Increase in Stock Due to HITECH Stimulus Funds

By: Marie Westerhof
For : EMRapproved
Date Added : November 28, 2011 Views : 30837
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USA Today is reporting that stimulus funds for EMR implementation are driving a huge increase in the stocks of a number of top EMR companies.  Eleven healthcare IT developers – including Athenahealth, Cerner, and Allscripts Healthcare Solutions – are seeing up to an 82 percent increase in their stocks.

The American Recovery and Reinvestment Act of 2009 allotted about $100 billion to fund new healthcare technology, and much of this stimulus money has gone towards funding a mass switch to electronic medical records in the United States.  According to the ARRA’s HITECH Act and its “Meaningful Use” clause, all practices and hospitals will need to switch to EMR by 2015 or face financial penalties (in the form of a reduction of their Medicare benefits).

According to EMR consultants, the cost of implementing EMR varies depending on the number of providers in the practice – but a single-physician medical practice can easily spend over $20,000.  Stimulus money from the HITECH act helps offset this cost by reimbursing providers who can demonstrate that their EMR system meets certain requirements aimed toward improving the healthcare system and providing better patient care.

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