eRx - Available Now!
Have You Been Penalized?
The reporting period to avoid the 2012 for the Centers for Medicare and Medicaid Services (CMS)
e-prescription penalty ended on June 30, 2011.
Did you meet the deadline?
Fortunately, you can still earn an eRx incentive for 2012, effectively negating the 1 percent penalty you may have incurred.
Successful use of a qualified eRX system in 2011 qualifies your providers for a 1 percent incentive bonus in 2011 and 2012, as well as a .5 percent bonus in 2013.
If you didn’t meet the reporting deadline for 2012, you may have incurred a 1 percent penalty for 2012. Additionally, you can still be penalized 1.5 percent in 2013.
There is still time to negate the penalty you may have incurred for 2012 and avoid the 2013 penalty altogether by enrolling in a qualified eRx program.
From CMS: "The individual eligible professional who generates at least one eRx associated with a patient visit on 25 or more unique events during the reporting period (January 1, 2011 through December 31, 2011) will be considered successful electronic prescribers."
To put this in a financial perspective, a medical specialist billing $800,000 per year at average of 40% Medicare population X 1 percent = $3,200 incentive bonus in 2011 and 2012 OR a $3,200 penalty in 2012, and a $4,800 penalty in 2013.
You need to act fast if you are not participating in an e-Rx program. There is still time to negate the Medicare eRx penalty you may have incurred.
Contact erx@md-it.com for more details.
Read an MD-IT e-Rx Testimonial Letter from Dr. Timothy Morrow.
CMS Resources:
Claims-Based Reporting Principles for Electronic Prescribing (eRx) Incentive Program
2011 Electronic Prescribing Incentive Program
Medicare's Practical Guide to the E-prescribing Incentive Program
2011 Electronic Prescribing Incentive Program- Adoption/Use of E-RX Release Notes
Comparison of Medicare Incentive Programs
