Monday, July 16, 2012

How To Reduce Your EMR Training Costs by Up To 75%

In my last post, I told you about an opportunity to reduce the training component of your EMR conversion by up to 75%. The Incumbent Worker Training (IWT) grant is a resource that can be used by qualifying Florida businesses to help defray some of the costs associated with employee training.

This is exciting news! If you have already researched the cost to convert to the electronic system, you understand that this conversion process is not inexpensive. You cannot install a new software system without training your team on the best way to use it. The IWT grant can make big a difference in the type of training your staff receives.
Who is Eligible to Apply?

Now I understand the BIG question in your mind is "Do I qualify?" If you answer "Yes" to the following questions, you are eligible to apply for an IWT grant:
  • Are you a for-profit business?
  • Have you operated in Florida for at least one year?
  • Do you have at least one FT employee (other than owners)?
  • Will the training be completed within 12 months?
  • Are you current on Florida taxes?
What is Eligible?
The IWT grant will allow you to reduce your direct training costs by up to 75% (or $50,000). So that you'll be clear on what is eligible, I have included the following list:
  • Training fee from an outside vendor
  • Cost of employee-trainer
  • Cost of training materials
I'd like to warn you that these grant funds will not be available for long. This fiscal year, the State received $5 million dollars to fund this program. Of course, with the recent budget cuts, the funding for the upcoming fiscal year has been reduced to $2 million. What that means to you is: the sooner you apply, the better.

Stay tuned for information on what steps you need to take next....

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