iMedicor has been designated as one of the leading consultants in the U.S. for the Health Information Technology for Economic and Clinical Health (HITECH) Act project, through its contract with the New Jersey HITEC organization.
Through its contract with NJ-HITEC, iMedicor has helped more than 300 primary care physicians qualify to receive meaningful use compliance incentive funds of nearly $15 million from the Office of the National Coordinator under the U.S. Department of Health and Human Services.
In addition, as part of a pilot project last year, the company provided meaningful use compliance services to 34 New Jersey Dental Association practitioners. As a group, these dentists became eligible to receive up to a total of $2.2 million over a six-year period.
Currently, more than $8 million in meaningful use incentive funding is pending for an additional 150 physicians and dentists, the company noted.
Federal legislation enables medical and dental practices with a minimum of 30% of their treated patients under Medicaid or Medicare to qualify for a total of $63,750 (Medicaid) or $44,250 (Medicare) in incentive funds, with an initial payment of $21,250 or $18,000, respectively, plus five subsequent annual payments of $8,500 or $5,250, respectively.
iMedicor expects to announce a meaningful use consulting service in the near future for more than 8,000 dentists in the Mid-Atlantic states, with a nationwide rollout planned for later in the first quarter.
