You've done it -- implemented an electronic health record (EHR) system successfully, met stage 1 meaningful use requirements (all 20 of them!) and even proceeded to have your providers finish attesting using CMS's online system.
Where then, is your money? The answers are in the fine print, CMS says in a new addition to its frequently asked questions website on EHR. First, even under perfect conditions, incentive payments under the Medicare EHR program (remember, there is a separate, similar EHR incentive program for Medicaid) will take about four to eight weeks after attestation.
Second -- and this is the point that is often neglected -- providers must meet a threshold for Medicare allowed charges before any payment can be made. From the horse's mouth: "The Medicare EHR incentive payments to [eligible professionals] are based on 75% of the estimated allowed charges for covered professional services furnished by the EP during the entire payment year."
In English, this means that to get their full $18,000 first-year bonus under the Medicare EHR Incentive Program, your providers must each accumulate $24,000 in allowed charges ($18,000 is 75% of $24,000).
That means $24,000 in allowed charges for covered professional services -- labs and orders for supplies or durable medical equipment don't count toward the threshold. CMS will hold each provider's $18,000 payment until they reach the $24,000 threshold.