Pharmacy HIT may get help from Congress

December 11, 2009

The House Small Business Committee has passed the Small Business Health Information Technology Financing Act, which could provide up to $10 million in loans to help pharmacies implement HIT. The act is now slated for vote by the full House of Representatives.

The Small Business Health Information Technology Financing Act could provide up to $10 million in loans for implementation of healthcare information technology. The program would provide reduced-cost loans guaranteed up to 90 percent, with a subsidized deferment period of up to three years for state-licensed pharmacists and other healthcare providers.

"Administrative burdens add dramatically to the ever-rising price tag of healthcare, but the cost-saving information technologies which are readily available are often too expensive an investment for small group or individual healthcare providers," said Representative Kathy Dahlkemper [D-Penn]. The act, which was passed by the U.S. House Small Business Committee and is slated for vote by the full House, includes incentives that encourage local banks to lend to small businesses.