Obamacare is here to stay, or at least for a good bit longer. It became official with last week’s U.S. Supreme Court decision in favor of nationwide subsidies called for in the Affordable Care Act (ACA). While controversial, Obamacare has had a significant impact for many Americans and it has reshaped much of the healthcare landscape for many providers too. Since Obamacare initially passed in 2010, there are an additional 16 million people that have health insurance in the U.S.
There have been countless stories in the media of individual’s lives who have been positively impacted since being insured. There has been less emphasis in the mainstream media about how Obamacare is impacting doctors. Doctor’s opinions on Obamacare vary widely. A recent poll by Kaiser Family Foundation found that 52 percent of doctors dislike the law, compared to 48 percent who view it favorably.
Many practices have decided to turn away patients with Obamacare plans. Some practices just don’t have the capacity to treat additional patients while others feel that Obamacare is negatively affecting their bottom-line.
It is estimated that up to 20 percent of people who sign up for ACA plans don’t pay their premiums and lose their coverage after 90 days. Those patients aren’t required to pay their doctors for any services they received during that time. In addition, insurance companies only reimburse doctors for visits during the first 30 days. This puts the onus on physicians to determine which patients have paid premiums. This, combined with low reimbursement rates, makes it very difficult for small practices to stay profitable.
If you have questions about how to make your practice profitable in the Obamacare era, please contact us at Call 303.755.2900.