The act that provides incentives and penalties aimed at reducing healthcare costs is HITECH act.
The American Recovery and Reinvestment Act of 2009 (often known as the HITECH Act) includes the Health Information Technology for Economic and Clinical Health Act (ARRA). To encourage the adoption of electronic health records (EHR) and related technology in the US, the HITECH Act was developed. As part of the American Recovery and Reinvestment Act of 2009, President Obama signed HITECH into law on February 17, 2009. (ARRA)
The five objectives of the HITECH Act have been compared to those of the US healthcare system: to enhance quality, safety, and efficiency; to involve patients in their care; to strengthen coordination of care; to enhance population health; and to guarantee privacy and security.
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