House passes bill to help medical practices adopt health IT
The Small Business Health IT Financing Act, which includes a provision authorizing the Small Business Administration (SBA) to guarantee health IT loans to small business health practices or medical professionals, was passed by the House of Representatives last week.
Introduced in late June and sponsored by Kathleen A. Dalhkemper, D-Pa., the bill (H.R. 3014) would amend the Small Business Act by authorizing the administrator of the SBA to guarantee up to 90 percent of the amount of a loan to be used for the acquisition and installation of health IT in small practices or by eligible professionals. The bill has been referred to the Senate.
According to the legislation, the loans may not exceed $350,000 with respect to any single qualified eligible professional or $2 million with respect to a single group of affiliated qualified eligible professionals.
Loans guaranteed under the amended section will come equipped with a deferral period of one to three years.
According to the bill, the administrator cannot guarantee a loan under the amendment until the EHR meaningful use requirements have been determined by the Secretary of Health and Human Services, after which a sunset clause is appropriated where an administrator may not guarantee a loan after seven years to the date the requirements are defined.
After an opportunity for notice and comment, but no later than 180 days after the date of the enactment of H.R. 3014, the administrator could issue regulations to implement the law and its amendments.
Introduced in late June and sponsored by Kathleen A. Dalhkemper, D-Pa., the bill (H.R. 3014) would amend the Small Business Act by authorizing the administrator of the SBA to guarantee up to 90 percent of the amount of a loan to be used for the acquisition and installation of health IT in small practices or by eligible professionals. The bill has been referred to the Senate.
According to the legislation, the loans may not exceed $350,000 with respect to any single qualified eligible professional or $2 million with respect to a single group of affiliated qualified eligible professionals.
Loans guaranteed under the amended section will come equipped with a deferral period of one to three years.
According to the bill, the administrator cannot guarantee a loan under the amendment until the EHR meaningful use requirements have been determined by the Secretary of Health and Human Services, after which a sunset clause is appropriated where an administrator may not guarantee a loan after seven years to the date the requirements are defined.
After an opportunity for notice and comment, but no later than 180 days after the date of the enactment of H.R. 3014, the administrator could issue regulations to implement the law and its amendments.