eRx - Available Now!
Have You Been Penalized?
The reporting period to avoid the 2012 and 2013 for the Centers for Medicare and Medicaid Services (CMS) e-prescription penalty ended on December 31, 2011.
Did you meet the deadline?
If you didn’t meet the reporting deadline for 2012, you may have incurred a 1 percent penalty for 2012 and a 1.5% penalty for 2013. Additionally, you can still be penalized 2% in 2014 if you're an eligible provider and you don't enroll in a qualified eRx program.
Fortunately, you still have time to earn a 0.5% eRx incentive for 2013 and avoid a 2% penalty in 2014 by participating in successful use of a qualified electronic prescribing system.
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 0.5 percent = $1,600 incentive bonus in 2013 OR a $4,800 penalty in 2013, and a $6,400 penalty in 2014.
You need to act fast if you are not participating in an e-Rx program. There is still time to avoid the Medicare eRx penalty for 2014.
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
