Dental groups and DSOs are throwing away millions of federal and state dollars per year that they are eligible for. However, there is a Federal Technology Incentive Program, or “Electronic Health Records (EHR) Incentive Program,” which is a federally authorized and state managed financial incentive program to counteract that. The program provides rewards for medical and dental groups that have purchased certified software systems and used them in a ‘meaningful way’ to improve group efficiency and patient care and outcomes. EHR entitles a group or DSO to a subsidy of $63,750 per dentist, paid out over a six-year period.
Despite being well-publicized and wildly popular in the medical group world, the program doesn’t seem to have had the same visibility or understanding in the dental space. Your medical colleagues certainly have enjoyed payments of billions of incentive dollars over the past few years. Why shouldn’t dental get a piece of the pie? After all, it’s your tax dollars at work.
Registration for this program ends soon so if you haven’t purchased certified software by the end of 2016, it will be too late. However, if you already are using a certified dental software program, you might still be able to apply for Year 1 money, $21,250 per dentist, by March of 2017. Furthermore, if your dental group or DSO has entered the program and your group has already received your Year 1 incentive money, you may be leaving an additional $42,500 per dentist on the table over the next five years and not even be aware of it.
Written by Mike Uretz for GDN