Empower Systems Announces $100 Million Federated Healthcare IT Investment Fund for ONC Certified EHR Deployment at Critical Access Hospitals

Top Quote ONC Certified Complete EHR firm Empower Systems has announced the creation of its $100M Federated Healthcare IT Investment Fund. The purpose of the fund is to assist financially distressed hospitals in the rapid implementation of comprehensive Electronic Health Record (EHR) software and capitalize on Obama Healthcare IT Stimulus Incentives, which begin in early 2011. End Quote
  • (1888PressRelease) December 09, 2010 - In order for all hospitals to qualify for incentive payments of $2 Million dollars per facility and $44,000 per physicians' offices, they must demonstrate Meaningful Use of an ONC Certified Complete EHR for 90 continuous days prior to payment commencement in May 2011. For hospitals that have not already implemented a comprehensive system, time is truly of the essence. The Empower Systems Federated Healthcare IT Investment Fund directly assists in this time-sensitive process by requiring no money down for qualified Critical Access Hospitals to receive expedited deployment of comprehensive EHR software to Inpatient units and physicians offices. Investment fund dollars are repaid once stimulus revenue is received by the hospitals, thus negating out of pocket expenses at the outset.

    The Federated Healthcare IT Investment Fund is a unique EHR implementation model, by offering investment dollars to facilities with limited financial resources interested in capturing stimulus incentives and transitioning to a comprehensive Electronic Health Record as quickly as possible. Empower Systems EHR functionality enables all hospital units and physicians offices to comprehensively document all clinical care, integrate to all existing core hospital information systems, and fully track all Meaningful Use requirements. Empower Systems CEO & Co-Founder, Dr. Seth Guterman said, "The Federated Healthcare IT Investment Fund is a crucial step in bridging the financial gap between EHR implementation, Meaningful Use compliance, and realizing maximum stimulus incentive revenue for financially challenged Critical Access Hospitals."

    Federated Healthcare IT Investment Fund applications are now being processed in order to qualify Critical Access Hospitals across the country. To meet May 2011 stimulus deadlines, this program guarantees GoLive dates by January, February, or March of 2011, depending upon hospitals' individual program entrance date. Inclusion in the program is reported to be limited, so early entrants are most likely to be selected for the program.

    Hospital applicants can apply for expedited financial assistance from the Investment Fund by contacting the governance Board of Directors directly at (773) 255-1236. Additional information can be found on online at www.empower.md

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