IBM Provides Private Financing For EHR Adoption

IBM Global Financing has partnered with four electronic healthcare records (EHRs) providers to improve implementation through private financing to hospitals and medical providers.

"EHRs hold the potential to make healthcare more efficient, safer and lower costs, but a lack of capital is holding back many hospitals and physician practices from making the move to digital records," IBM said, "and while the terms of reimbursement are still unclear, a financing gap exists for many hospitals and doctors wanting to make the move to EHRs. The switch is especially difficult for smaller medical groups under greater challenges to manage costs."

IBM selected Siemens Healthcare, Lavender and Wyatt Systems Inc. (LWSI), Healthcare Management Systems and SCC Soft Computer to contract with.

IBM will now provide financing for Siemens clinical and revenue cycle management applications, including INVISION, MedSeries and Soarian.

LWSI is a software solutions company focused on behavioral health providers, contracting with IBM provides financing for it’s non-profit customers to implement EHRs.

"Even at the niche level, financing is key. Many of our clients have seen reduced funding from public and private sources, but still understand the need to start implementing solutions today. We feel thathelping our clients connect the dots between federal grants and loans, charity pricing and IBM Global Financing options stretches their dollars available for LWSI’s Essential solution," said Brad Feller, president of LWSI.

Healthcare Management Systems will use the IBM partnership to attain meaningful use criteria for its clients, IBM said.

"Customers of electronic healthcare records solutions soon realize that while health IT technology is necessary, it’s also expensive," said Richard Dicks, IBM general manager for North America.

"Costs have today become a non-technological barrier to health IT adoption. It’s a chicken and egg scenario facing medical providers. Many are waiting for government funding working its way through the system, but need the benefits of the technology today. Technology financing helps speed up implementation in a more cost effective manner," Dicks said.

Address: IBM Corporation, 1 New Orchard Road, Armonk, NY 10504; (914) 499-1900, www.ibm.com/financing.