News | June 18, 2009

GE Launches its Own Economic Stimulus for EMR Implementation

June 18, 2009 – GE Healthcare this week launched its Stimulus Simplicity program, which offers healthcare providers interest-free loans with deferred payments to purchase electronic medical records (EMRs) and a certification warranty to ensure the EMRs will meet any guidelines set for meaningful use.

“Electronic medical records are designed to assist providers in improving patient outcomes, and reducing medical errors and costs,” said Vishal Wanchoo, president and CEO of GE Healthcare IT. “However, significant financial barriers are making healthcare providers hesitant to adopt the technology. Between the large upfront capital investment required in these challenging economic times and the uncertainty of the criteria to earn government incentive payments, small practices and facilities in rural areas and inner cities may decide the risks don’t outweigh the potential benefits. GE’s zero-interest interim funding and certification warranty provide doctors, community health clinics and hospitals a bridge to qualifying for stimulus funds and faster access to the improved care available through electronic medical record use.”

The new program focuses on GE’s Centricity EMR and Centricity Enterprise Solutions – the company’s integrated clinical, financial and administrative system that documents all aspects of patient care. GE’s financial services business, GE Capital, will provide the financing with GE Healthcare providing its EMR product certification warranty. GE Capital expects to make about $100 million available for the program.

Under the government’s stimulus provisions, federal funds won’t become available for EMRs until 2011 and the government has yet to set specific guidelines for determining what constitutes a “qualified” system.

GE said the Hazard Clinic, in the Appalachian region of Eastern Kentucky, is among the first to qualify for the interest-free loan to purchase the Centricity EMR solution. “This gives a small, rural clinic like ours a once-in-a-lifetime opportunity to bring our patients the type of technology they’d typically have to travel for,” said Stephanie Wooton, Hazard Clinic administrator. “The case for EMR is clear and convincing. Yet, as a community-based organization, we likely wouldn’t have been able to transform our recordkeeping without this offer. Now, not only do we expect the Centricity EMR to save us money by increasing efficiencies, it will empower our staff to deliver the topnotch care our patients deserve. Frankly, that’s the most exciting part.”

By accelerating EMR and health information exchange adoption, GE expects to help remove $28 billion in cost from the health system while improving access to better and more affordable care.

“We can offer this attractive financing package because of the quality of GE’s EMR offering, the reduced credit risk due to anticipated customer reimbursement from the HITECH Act (contained in the American Reinvestment and Recovery Act of 2009, or ARRA), and the opportunity this program creates for new customer relationships for our healthcare financial services business.”

When GE launched its new healthymagination business strategy last month, one of the key components was the commitment to provide financing for advancing healthcare solutions. The healthymagination initiative is a $6 billion commitment to improve access, affordability and quality of healthcare. Under the program GE supports the expanded use of healthcare IT to speed communications, while limiting variation and controlling costs. By accelerating EMR and health information exchange (HIE) adoption, GE expects to help remove $28 billion in cost from the health system while improving access to better and more affordable care.

For more information: www.healthymagination.com, www.gehealthcare.com/usen/hit/hitech_act.html

Related Content

FDA Clears Bay Labs' EchoMD AutoEF Software for AI Echo Analysis
Technology | Cardiovascular Ultrasound | June 19, 2018
Cardiovascular imaging artificial intelligence (AI) company Bay Labs announced its EchoMD AutoEF software received 510(...
News | Remote Viewing Systems | June 14, 2018
International Medical Solutions (IMS) recently announced that the American College of Radiology (ACR) added IMS'...
Wake Radiology Launches First Installation of EnvoyAI Platform
News | Artificial Intelligence | June 13, 2018
Artificial intelligence (AI) platform provider EnvoyAI recently completed their first successful customer installation...
How AI and Deep Learning Will Enable Cancer Diagnosis Via Ultrasound

The red outline shows the manually segmented boundary of a carcinoma, while the deep learning-predicted boundaries are shown in blue, green and cyan. Copyright 2018 Kumar et al. under Creative Commons Attribution License.

News | Ultrasound Imaging | June 12, 2018 | Tony Kontzer
June 12, 2018 — Viksit Kumar didn’t know his mother had...
Zebra Medical Vision Unveils AI-Based Chest X-ray Research
News | Artificial Intelligence | June 08, 2018
June 8, 2018 — Zebra Medical Vision unveiled its Textray chest X-ray research, which will form the basis for a future
Konica Minolta Launches AeroRemote Insights for Digital Radiography
Technology | Analytics Software | June 07, 2018
Konica Minolta Healthcare Americas Inc. announced the release of AeroRemote Insights, a cloud-based, business...
Vinay Vaidya, Chief Medical Information Officer at Phoenix Children’s Hospital

Vinay Vaidya, Chief Medical Information Officer at Phoenix Children’s Hospital

Sponsored Content | Case Study | Artificial Intelligence | June 05, 2018
The power to predict a cardiac arrest, support a clinical diagnosis or nudge a provider when it is time to issue medi
How image sharing through a health information exchange benefits patients while saving time and money is depicted in this slide shown at HIMSS 2018. Graphic courtesy of Karan Mansukhani.

How image sharing through a health information exchange benefits patients while saving time and money is depicted in this slide shown at HIMSS 2018. Graphic courtesy of Karan Mansukhani.

Feature | Information Technology | June 05, 2018 | By Greg Freiherr
A regional image exchange system is saving lives and reducing radiology costs in Maryland by improving the efficiency
Using Imaging Analytics for Radiology, VCU Health in Richmond, Va., has developed a dashboard to view turnaround time analysis. This functionality allows drill down for each technologist and radiologist and looks at the different steps of the imaging cycle.

Using Imaging Analytics for Radiology, VCU Health in Richmond, Va., has developed a dashboard to view turnaround time analysis. This functionality allows drill down for each technologist and radiologist and looks at the different steps of the imaging cycle.

Sponsored Content | Case Study | Information Technology | June 05, 2018
Sharon Gibbs, director of the radiology department at VCU Health in Richmond, Va., aims to provide quality, timely and...
PACS and the Road to Reconstruction
Feature | PACS | June 05, 2018 | By Dave Whitney and Jef Williams
The PACS — picture archiving and communication systems — have been in existence for more than 45 years. One of the...
Overlay Init