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IBM Announces $2B To Cover Gap in High-Tech Stimulus Funding
Colleagues,
As reported in various publications including iHealthBeat ... IBM announced that it will provide $2 billion in bridge financing for high-tech infrastructure projects, including health IT projects, that likely will qualify for federal grants and incentive payments under the economic stimulus package.
The federal stimulus package includes Medicare and Medicaid incentive payments for hospitals and physicians who demonstrate meaningful use of health IT. However, health care providers will receive the funding only after they have adopted the technology, not as upfront financing The incentive payments will begin in 2011 and continue through 2015.
Joseph Pucciarelli, an analyst at IDC, said the IBM program could help start high-tech projects. He said, "The irony is that Washington has promised all this money, but you need funding to start the projects" ("Bits," New York Times, 4/30).
IBM executives said the money can help health care organizations move forward with IT projects that could improve infrastructure and competitiveness (Monegain, Healthcare IT News, 5/1).
John Callies, general manager of IBM's global finance unit, said he expects the bridge financing program to be appealing to medical centers looking to adopt electronic health records ("Bits," New York Times, 4/30).
The funding primarily will go toward technology projects using IBM hardware, software and technology services components. However, financing also can be applied to non-IBM technology that is part of a larger IBM project (Healthcare IT News, 5/1).
Read on at: http://www.healthcareitnews.com/news/ibm-loans-target-healthcare-it-projects
ENJOY!
CC
As reported in various publications including iHealthBeat ... IBM announced that it will provide $2 billion in bridge financing for high-tech infrastructure projects, including health IT projects, that likely will qualify for federal grants and incentive payments under the economic stimulus package.
The federal stimulus package includes Medicare and Medicaid incentive payments for hospitals and physicians who demonstrate meaningful use of health IT. However, health care providers will receive the funding only after they have adopted the technology, not as upfront financing The incentive payments will begin in 2011 and continue through 2015.
Joseph Pucciarelli, an analyst at IDC, said the IBM program could help start high-tech projects. He said, "The irony is that Washington has promised all this money, but you need funding to start the projects" ("Bits," New York Times, 4/30).
IBM executives said the money can help health care organizations move forward with IT projects that could improve infrastructure and competitiveness (Monegain, Healthcare IT News, 5/1).
John Callies, general manager of IBM's global finance unit, said he expects the bridge financing program to be appealing to medical centers looking to adopt electronic health records ("Bits," New York Times, 4/30).
The funding primarily will go toward technology projects using IBM hardware, software and technology services components. However, financing also can be applied to non-IBM technology that is part of a larger IBM project (Healthcare IT News, 5/1).
Read on at: http://www.healthcareitnews.com/news/ibm-loans-target-healthcare-it-projects
ENJOY!
CC
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