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Beginning in 2014, All Medical Practices Will Be Required by the CMS

question 2

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Beginning in 2014, all medical practices will be required by the CMS to adopt a certified electronic medical record software system for documenting and billing for medical services.What is a primary reason for this implementation mandate?


Definitions:

Initial Cost

The upfront expenditure related to acquiring or starting a new project or investment, not including ongoing or future costs.

Risk Level

A measure of the uncertainty associated with achieving return objectives within investing, often determined by the volatility in asset prices and market fluctuations.

Project Life

The duration from the initiation to the conclusion of a project, encompassing all stages of development and execution.

OTC Market

Over-the-counter market, where securities are traded directly between parties without the supervision of an exchange.

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